Brazil's steel production and consumption were expected to improve in 2023. However, compared to January 2022, it decreased by 4.9% to 2.8 million tons. 78.8% of the raw steels produced were produced in basic oxygen furnaces. Brazil's crude steel production increased by 11.1% in January 2023 compared to the previous month.
In January, Brazil's steel production increased by 32.8% m-o-m and decreased by 7.9%y-o-y to about 1.85 million tons. Pig iron production, which increased compared to a month ago, amounted 2.27 million tons, and apparent iron and steel consumption amounted 2 million tons.
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