Brazil’s steel industry took a heavy hit from regional restrictions in the country to contain the spread of the coronavirus. Demand fell significantly in April and recovered at a slow pace throughout the remainder of the second quarter, particularly for flat steel.
Data from Instituto Aço Brasil, the country’s steelmakers’ association, showed that domestic sales of flat steel totaled 1.92 million tonnes during the second quarter, down by 29.1% from 2.71 million tonnes a year earlier, and also 28.3% lower than the 2.68 million tonnes sold in the first three months of 2020.
Usiminas’ domestic shipments totaled 506,000 tonnes in April-June, a 43.9% decrease from 902,000 tonnes in the first quarter, according to the company’s earnings report released on July 30
The company, which has a steel-producing unit each in the states of Minas Gerais and São...