Brazil’s crude steel output rose 3.8pc: IABR

Brazil’s crude steel output rose by 3.8pc to 2.8mn mt in February, from 2.7mn mt produced in the same month last year according to the Brazilian Steel Association (IABR). 

Marco Polo de Mello Lopes, executive president of IABR said in a press conference that recent media reports on steel price hikes and limited supply were unfounded. Several steelmakers across the country have restarted their blast furnaces after the COVID-19 related lockdowns in May 2020 hit the Brazilian market, Lopez noted adding that Brazil’s steel production grew in February.

Lopes pointed out that by June last year, the steel industry had begun supplying to the domestic steel market with production volumes that were higher than those in January and February 2020, when there was no pandemic nor complaints about the lack of supply of steel.

In February, Brazil’s rolled steel production grew by 8.3pc to 2.05mn mt from 1.89mn mt produced in the same prior-year period. Here’s a break up of the output of various steel grades produced in Brazil during February: