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Brazilian steel industry holds cautious and optimistic attitude

MetalBiz quoted Mr Flavio Azevedo chairman of Brazil Iron & Steel Association as saying that stated Brazil steel industry holds the cautious and optimistic attitude in the period from now till at the end of this year.

In July, Brazil crude steel production was 2.5 million tonnes, up by 22.8%, which is supportive to the optimistic attitude. But Mr Azevedo warned that the optimistic should be proper, it is uncertain that the increase can last for longer time. Brazil is confronted with the exchange rate and the weak demand from the international market.

During the January to July period of 2009, Brazil's crude steel yield was 13.1 million tonnes, down by 36.9%, the domestic sales was down by 38.7% to 8.3 million tonnes, the exports slid by 28.2% to 4.3 million tonnes. However, the steel imports climbed by 1.8% to 1.3 million tonnes. The apparent steel consumption of Brazil was 9.6 million tonnes, returning the level of 2006.

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