Brazilian steel demand set to grow by 5.2% in 2020 after falling by 2.4% in 2019, Aço Brasil says

Expectations for a recovery in Brazilian steel demand this year have been postponed to 2020 since the economy did not grow as previously forecast, national steel institute Aço Brasil said on Thursday December 5.

The institute forecast apparent steel consumption at 21.78 million tonnes next year, a 5.2% increase from the 20.71 million tonnes expected in 2019. This year’s outlook was cut from 21.66 million tonnes previously and now anticipates a 2.4% decrease from 21.21 million tonnes in 2018.
Aço Brasil had initially announced on December 5 a 6.2% growth estimate in apparent steel use for 2019. The outlook was then slashed to 4.6% on April 25 and again to 2.1% on July 25.

“The construction sector is poised to lead the steel demand recovery...

Published

Renato Rostás

December 05, 2019

21:17 GMT

São Paulo