Brazil steel consumption to contract further

摘要

Brazil’s apparent steel consumption and domestic sales of steel products will decline further this year as political and economic conditions weigh on key steel consuming sectors, the Brazil Steel Institute (IABr) has said. Apparent steel products consumption is set to decline by nearly 9pc to 19.4mn t this year, while domestic steel sales are likely to fall by 4pc to 17.4mn t, according to IABr. These projections follow steep downturns in February, when apparent steel products demand fell by 27pc year on year to 1.4mn t, and domestic sales dropped by 18.5pc to 1.3mn t.