Aço Brasil significantly revises 2020 forecasts amid fast steel market recovery

The fast steel market recovery seen in Brazil in the past few months has led the country’s steelmaker association, Instituto Aço Brasil, to revise its forecasts for 2020 up significantly from previous expectations set in July.

Full-year apparent steel consumption is now expected at 20 million tonnes, a 4.7% drop from 20.98 million tonnes in 2019. The previous estimate was for 17.96 million tonnes, a 14.4% year-on-year decrease.
Similarly, the forecast for crude steel production was increased. The new estimate is for 30.5 million tonnes in output, down by 6.4% from 32.57 million tonnes last year and compared with the previous scenario of a 13.4% drop to 28.22 million tonnes.

The decrease estimate in domestic sales volumes was changed to 3.1% from 12.1%, Aço Brasil added. The association now expects sales to total 18.22 million tonnes in 2020, from 18.8 million tonnes in 2019 and higher in comparison with the previous 2020 forecast of 16.52 million tonnes.
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Published

Renato Rostás

October 01, 2020

18:27 GMT

São Paulo