Crude steel production increased

According to InstitutoAçoBrasil (IABr), Brazilian crude steel production increased 2.4 percent to 2.8Mt in November. IABr is the country’s local steel industry association.
According to the association, output of rolled products amounted to 2.2Mt in October, 2012, up 10.1 per cent from the same period the year before, and to 24.3Mt in January-November, a 4 per cent increase from 2011.
Domestic steel sales in November, 2012 reached 1.8Mt, up 2.5 per cent from the previous year, and 20Mt in the first 11 months, up 0.9 per cent.
Steel exports in November came to 789,000t, worth US$502 million. However, from January-November exports were 9Mt, worth US$6.5 billion, down 9.6 per cent in volume and 15.5 per cent in value.
Brazil registered 279,000t of steel imports, worth US$349 million in November. Imports reached 3.5Mt in January-November, up 2.7 per cent from the previous year.

Apparent domestic steel consumption reached 23.4Mt in the first 11 months, representing an increase of 1 per cent.
Brazil is Latin America’s largest steel producer. The country is home to steelmakers such as Gerdau, Usiminas and CSN, and hosts a number of foreign-owned steel companies.
Steelmakers in the country have been hit in recent years by high iron ore prices, high local production costs, global overcapacity and unstable demands, as a result of economic volatility.
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