Brazil’s steel sector is expected to grow 2.7% in 2022 when compared to the previous year, according to the Latin American Steel Association (Alacero). The sector is also expected to advance in 2023, with an increase of 0.6%. This year, Brazilian steel production is driven by the recovery of the automotive sector, which grew 32% in the third quarter of this year, after a challenging first half. This year, the high of the segment was 6.3%. Civil construction, on the other hand, fell 5.7% from June to August, due to the increase in interest rates, and the difficulty in real estate financing.
Sources: CNN/ União Nacional da Bioenergia (*Translated by Ia Niani)