Brazil's economy slows down, what will it mean for coal imports?

摘要

The Brazilian Steel Institute has lowered the country's outlook for crude steel production this year to 36.3 million tonnes, down from a previous forecast of 39.4 million tonnes. Will this translate to lower coking coal purchases in the fourth quarter?"I think it very well could, and Brazilian steel mills could scale back on purchases in the first half of next year as well," Catia MacCord, a spokesman for the Brazilian Steel Institute told Coal Americas. "The Brazilian economy has definitely slowed down, and the stress the steel industry is feeling is in large part due to the influx of cheap Chinese steel into the domestic market. Our steel industry hit the tipping point where consumers are refusing to pay the price for Brazilian steel and instead are looking to China."