Brazilian steel consumption set to fall by 14.4% in 2020, Aço Brasil says

Brazilian apparent steel consumption is set to fall by 14.4% in 2020 as first-half figures were largely affected by restrictions put in place to limit the spread of the Covid-19 pandemic, the national steelmakers’ association, Instituto Aço Brasil, said on Monday July 27.

Consumption is expected to total 17.96 million tonnes this year, compared with 20.98 million tonnes in 2019, the association stated. This would be the lowest annual level since 16.8 million tonnes reported in 2005.
“Brazilian steel demand would then go back in time by 15 years,” Aço Brasil executive president Marco Polo de Mello Lopes said in a press conference.
Domestic sales are estimated to reach 16.52 million tonnes in 2020, down by 12.1% from 18.8 million tonnes in the previous year. Imports are calculated to hit 1.54 million tonnes, falling by 34.8% from 2.37 million tonnes in 2019.

Aço Brasil expects crude steel production to total 28.22 million tonnes this year, a 13.4% decrease from 32.57 million tonnes in 2019. Exports are expected at 10.96 million tonnes in 2020, a 14.4% year-on-year decline...

Published

Renato Rostás

July 27, 2020

23:20 GMT

São Paulo