Crude steel production rises and sales soar in March, says Brazil Steel Institute
RIO DE JANEIRO, BRAZIL – Brazilian production of crude steel in March totaled 2.8 million tons, up 4.1% over a year earlier and practically at the same level as February, reported the Brazil Steel Institute on Tuesday, which represents steelmakers installed in the country.
Meanwhile, sales in the domestic market were 2.109 million tons, up 41.9% year on year. Compared to February, the volume sold grew 10.5%.
According to the executive president of the institute, Marco Polo de Mello Lopes, the volume sold in March was the highest since October 2013.
“Apparent consumption of steel products was 2.4 million tons, 50.1% higher than in March 2020. This was also the highest apparent consumption since October 2013,” the executive said in a statement.
Earlier, the flat steel distribution sector, one of the main clients of the steel mills, published data that showed an increase in sales in March of 4.2% compared to February and 22.7% over the same month last year, to 325,400 tons. However, for April, the expectation is for a 5% drop.
According to Aço Brasil, the demand for steel in the country reflects the recovery of consuming sectors since the middle of last year, and “the formation of defensive inventories of some segments in relation to market volatility, caused by the boom in commodity prices.
“In the case of the steel industry, almost all inputs and raw materials and, in particular, essential ones such as iron ore and scrap had significant price increases, with a strong impact on production costs,” said Lopes.
According to Inda, which represents the distributors, since the beginning of the year, the mills raised their prices three times, accumulating a 35% increase.
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