Raw Steel Production Increases By 5.6% In Brazil

2024-12-17 02:13:51

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – From January to November this year, the volume of raw steel production in Brazil reached 31.1 million tonnes. This result is 5.6% higher than the figure recorded in the same period of 2023, according to the Aço Brasil Institute , in a report released on Monday (16).

When accounting for the results of December, the year of 2024 is forecast to close at a production of 33.7 million tonnes.

In a press conference, the Aço Brasil Institute emphasized how the three main sectors that depend on steel contributed to the reported performance: The automotive sector saw a 12.1% increase, while the machinery and equipment sector and the construction industry recorded positive changes of 1% and 4.1%, respectively.

In the comparison between the first 11 months of 2024 and the same period in 2023, steel imports, apparent consumption, and domestic sales grew by 24.4%, 9.6%, and 8.7% in Brazil, respectively.

Year to date, the worst figure was related to exports, which totaled 8.8 million tonnes so far, 18.5% less than the same period last year.

Read more:
Libya increases iron ore imports from Brazil

Translated by Guilherme Miranda

The post Raw steel production increases by 5.6% in Brazil appeared first on ANBA News Agency .

MENAFN17122024000213011057ID1109003695

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.