Brazilian steel demand set to grow by 6-8% in 2020, Gerdau says

Brazilian apparent steel consumption is set to grow by 6-8% in 2020 if current gross domestic product (GDP) estimates are met, Gerdau’s chief executive officer Gustavo Werneck said on Thursday November 7.

The long-steel sector could rise faster because construction, its largest consumer, was hit harder during the country's recent economic crisis and has not yet started a significant recovery, the CEO added. The Brazilian steelmaker calculated flat-rolled steel demand would have to increase by 11% to regain its 2013 peak, while long products could climb by 39%. “The market is seeing a 2% GDP growth in Brazil for 2020, and surely steel consumption will be higher than that,” Werneck told analysts and...

Published

Renato Rostás

November 07, 2019

23:03 GMT

São Paulo