Brazilian steel consumption to increase 15 percent in 2021

Brazilian steel consumption to increase 15 percent in 2021

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Brazilian steel consumption this year is expected to increase 15 percent, year-over-year, according to data released by the Brazilian Steel Association, IABr.

According to a media report, IABr upgraded the growth of domestic steel consumption this year from 5.8 percent to 15 percent. The estimate was presented this week to Brazil’s president, Jair Bolsonaro, and several ministers.

IABr also said Brazilian crude steel output this year should also increase by 11 percent, year-over-year, while domestic sales are expected to grow 12.9 percent, year-over-year.

Marco Polo, president of IABr, also told Bolsonaro and his ministers there is no lack of steel products, despite industry claims.

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