Steel imports by Brazil met industry expectations, albeit dropping almost 16% from October and posting single-digit growth compared to the same month last year, according to data from Aço Brasil, the entity representing steel mills in the country. The internalization of material produced abroad fell by 15.9% in November compared to October, totaling 356,000 tonnes, a 9.2% increase year-on-year. However, the year-to-date balance until the end of last month still shows a nearly 50% expansion in steel imports by Brazil, reaching 4.5 million tonnes. Despite the decline in imports, crude steel production in November slightly increased, rising by 3.8% compared to the previous year and 2.8% from October, reaching 2.74 million tons. So far this year, the production volume is 29.35 million tons, a 7.1% decrease.
Sources: Terra/Datamar News