S\u00e3o Paulo \u2013 Brazil\u2019s steel output reached 17.2 million tons in the year\u2019s first six month, up 2.9% over the same period of last year, according to data shown this Wednesday (25) by Brazil Steel Institute in S\u00e3o Paulo. Domestic sales totaled 8.8 million tons, climbing 9.9% in the same comparison.<\/p>\n
The institute confirms the recovery trend but points out that the growth is based on the low percentage registered in 2017. \u201cWe need to put this growth in perspective,\u201d said Marco Polo de Mello Lopes, the institute\u2019s CEO.<\/p>\n
Exports totaled 6.9 million tons, a drop of 5.7% over last year\u2019s first six months. Regarding revenues, there was a 16% increase. \u201cWith the American market more protected, the immediate result would be higher prices,\u201d explained Lopes, mentioning the enforcement of a 25% tariff over the steel imported by the United States. For Brazil, the US established an import quota.<\/p>\n
Brazil\u2019s steel imports totaled 1.3 million tons, up 5.6% over 2017\u2019s first six months.<\/p>\n
The sector\u2019s 2018 growth forecast was revised down, considering the domestic and global scenarios, the former impacted by such factors as the truckers\u2019 strike at the end of May, and the latter dealing new protectionism measures in countries such as the US. In April, the institute\u2019s forecast was showing a 8.6% growth, which has now been revised down to 4.3%.<\/p>\n
The strongest impact should be felt in exports, with the forecast being revised down from a 10.7% growth to a 0.6% decline. Also brought down were the forecasts for domestic sales, from a growth of 6.6% to 5%, and for imports, from 10.1% growth to 5.3%.<\/p>\n
Translated by S\u00e9rgio Kakitani <\/strong><\/p>\n