According to the Brazilian Steel Institute IABr, crude steel production in the country during May this year was about 2.8 million tons, a drop of 5.5% compared to the same month of the previous year.

Domestic steel sales fell by 6.9% during the month, from the same month of the previous year, reaching 1.7 million tons. Meanwhile, apparent steel consumption was around 2 million tons, down by 3% based on the same comparison.

In the first five months of this year, the domestic steel sales were 8.1 million tons, and apparent steel consumption was 9.6 million tons. The figures represent 4.6% less and 1.3% less, respectively, on a year-on-year basis.