In a notable downturn for Brazil's steel industry, the export of semi-finished steel products experienced a decrease of 22.6% in December 2023. The total exports for the month amounted to 584,000 tons, reflecting a substantial dip from the previous month and a 12% decrease compared to the same period in the preceding year.
Export value hits US$356 million - A 21.7% drop
Accompanying the decline in export volume, the export value for December 2023 was reported at US$356 million, marking a notable 21.7% decrease compared to the preceding month and a 22.6% drop in comparison to the corresponding period in the previous year.
Annual overview: 2023 sees 11.4% increase
Despite the challenging end to 2023, the annual overview for 2023 reveals a contrasting trend. Exports for the year experienced an 11.4% surge, reaching a total of 8.95 million tons. The United States emerged as Brazil's primary export destination during this period.
Export value slips by 2.1% y-o-y
While the export volume showcased an upward trajectory in 2023, the export value witnessed decline, slipping by 2.1% compared to the previous year.
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