Brazilian steel demand to plunge 50% in April on month, 20% in 2020: A?oBrasil

摘要

Brazilian steel demand is likely to fall 50% in April from the previous month, as the spread of the coronavirus intensifies in the country, while the year-long steel consumption may end up shrinking about 20% from 2019, according to the Brazilian Steel Institute A?oBrasil. Apparent steel consumption in Brazil totaled 20.6 million mt last year, a 2.7% decline from 2018. The group expects demand in the second quarter to retreat by 40% from the first quarter. Following government announcements of quarantines and lockdowns, steel demand has vanished, with automakers introducing collective vacations and output shutdowns, while other industries reacted by canceling orders.