According to data from the Brazilian Steel Institute (IABr), in July, Brazil’s crude steel production was 2.7 million tons, decreasing by 4.7% year on year. Meanwhile, compared to the same month a year ago, the steel products exports went down by 13.8% year on year to about 828,000 tons. The imports hiked by 78.5% to 481,000 tons. The apparent consumption of steel products slightly increased by 0.8% to 2 million tons.

In the first half of 2023, Brazil’s crude steel output fell by 8.6% year on year to 18.6 million tons. Compared to the same period a year ago, the apparent consumption of steel products decreased by 0.5% to 13.6 million tons, the imports hiked by 48.4% to 2.7 million tons, and the exports decreased by 6.2% to 7.1 million tons.