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Brazilian steel output in February grows by 2.3% MoM

IBS announced that the Brazilian production of crude steel in February 2009 was 1.7 million tonnes, representing an increase of 2.3% compared to January. For the production of laminates in February, from 1.1 million tonnes, representing growth of 11% over the previous month. However, in comparison with the same period of 2008, the production of the first two months of 2009, 3.3 million tonnes of crude steel and 2.2 million tonnes of rolled products, shows a decrease of 42.4% and 49.7% respectively. As for domestic sales, the result of February 2009 was 958,000tonnes of products, growth of 0.8% over the previous month. When compared with the same period of 2008 is recorded decrease of 47.2%. Exports of steel products in February 2009 reached 474,000 tonnes of products valued at USD 278 million. The export volume was 8.2% higher than in January, while revenue fell 31.2% reflecting the sharp fall in international prices of steel. Compared with February/2008, the volume of exports fell 45.6%.

As regards imports, was recorded in February volume of 160,000 tonnes valued at USD 267 million thus totaling thus 411,300 tonnes in the first two months. The national apparent consumption of steel products in February was 1.1 million tonnes, totaling thus 2.3 million tonnes in 1st two months of the year. This value represents drop of 43.6% compared to same period last year.

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