ArcelorMittal sees lower-than-expected steel consumption growth in Brazil

ArcelorMittal reduced its forecast for apparent steel consumption growth in Brazil in 2019 because of weak performance in the infrastructure sector as well as other industries in the supply chain.

The steelmaker now expects apparent steel use to grow by 0.5-1%, compared with a previous range of 1.5-2.5%, the company said on Thursday November 7. The cut in the guidance range is due to delayed growth in infrastructure spend in the country, an ongoing destocking in the supply chain and the effects of...

Published

Felipe Peroni

November 07, 2019

23:35 GMT

São Paulo