Despite the uncertainties caused by the war between Russia and Ukraine, the Brazilian Institute of Steel, Instituto Aco Brasil lABr, has maintained its forecasts for 2022, postponing a possible revision of the estimates presented in December to the end of the first half of the year. lABr Director Mr Marcos Faraco said “We maintain the constructive vision for 2022, confirming the demand forecasts. The entity projects growth of 2.2% in annual production of crude steel to 37 million tonnes and of 1.5% in apparent consumption to 26.9 million tonnes. Domestic sales are expected to rise 2.5% to 23 million tonnes, while exports are expected to advance 1.5% to 11.1 million tonnes. Imports, in turn, should fall 12%, to 4.3 million tonnes.”According to Mr Faraco, supply opportunities in the local market, growing investment in renewable energy, new infrastructure projects, heated activity in civil construction and a strong agricultural sector, sustaining the demand for machinery and equipment, in addition to export opportunities that arose with problems in logistics. He said “We continue to believe in a very good year from the market point of view.”In March, Brazil’s crude steel production reached 2.9 million tonnes, up by 10% MoM, apparent steel consumption was 2.1 million tonnes up by 15% MoM while domestic sales reached 1.8 million tonne up by 20% MoM.However, results for January-March 2022 quarter are lower than a year ago. Over the period, Brazil’s crude steel production totalled 8.5 million tonnes down by 2.4% YoY & apparent steel consumption dropped by 18% YoY to 5.6 million tonnes
Despite the uncertainties caused by the war between Russia and Ukraine, the Brazilian Institute of Steel, Instituto Aco Brasil lABr, has maintained its forecasts for 2022, postponing a possible revision of the estimates presented in December to the end of the first half of the year. lABr Director Mr Marcos Faraco said “We maintain the constructive vision for 2022, confirming the demand forecasts. The entity projects growth of 2.2% in annual production of crude steel to 37 million tonnes and of 1.5% in apparent consumption to 26.9 million tonnes. Domestic sales are expected to rise 2.5% to 23 million tonnes, while exports are expected to advance 1.5% to 11.1 million tonnes. Imports, in turn, should fall 12%, to 4.3 million tonnes.”According to Mr Faraco, supply opportunities in the local market, growing investment in renewable energy, new infrastructure projects, heated activity in civil construction and a strong agricultural sector, sustaining the demand for machinery and equipment, in addition to export opportunities that arose with problems in logistics. He said “We continue to believe in a very good year from the market point of view.”In March, Brazil’s crude steel production reached 2.9 million tonnes, up by 10% MoM, apparent steel consumption was 2.1 million tonnes up by 15% MoM while domestic sales reached 1.8 million tonne up by 20% MoM.However, results for January-March 2022 quarter are lower than a year ago. Over the period, Brazil’s crude steel production totalled 8.5 million tonnes down by 2.4% YoY & apparent steel consumption dropped by 18% YoY to 5.6 million tonnes
