The president of the Board of Directors of the Brazil Steel Institute, Jefferson de Paula, said that China now accounts for 52.2% of Brazil’s total steel imports in the first half of this year. From January to June, the import volume from China stood at 1.1 million tons, while the total import volume is 2.2 million tons.

Jefferson de Paula added that there may be a significant increase in Chinese steel imports to Brazil in the second half, and that this movement has already been recorded in the first six months of the year, with a 43% increase in steel imports, well above the segment’s expectations.

According to the executive, the institute expects a reduction in national steel production by 5% for 2023. In the first six months of the year, compared to the same period in 2022, crude steel production fell 8.9% to 15.972 million tons. The executive said he expects a 2.6% drop in apparent steel consumption for 2023. In the first half of the year, apparent steel consumption was 11.5 million tons, which represents a 1.6% drop during the period.

(Source: Isto é dinheiro)