Brazilian crude steel production falls while steel imports increase in 2023 y-o-y
Time:Tue, 23 Jan 2024 09:28:32 +0800
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According to the latest data from Brazil Steel Institute (Instituto Aço Brasil, IABr), in December 2023, crude steel production in Brazil increased by 0.9% year on year to about 2.52 million tons.
Full-year 2023 production totaled about 31.87 million tons, representing a drop of 6.5% compared to 2022. Meanwhile, domestic sales were 19.4 million tons, a year-on-year reduction of 4.4%. During the same period, steel exports reached 11.7 million tons with a value of US$9.8 billion, representing an annual drop of 1.8% and 9.7%, respectively.
However, in 2023, there is a strong year-on-year increase of 50% in steel imports, reaching 5 million tons for a total value of US$5.9 billion, growing by 21.2% compared to the same period in 2022.
