According to the latest data from the Brazil Steel Institute (IABr), December 2023 saw a 0.9% year-on-year increase in crude steel production in Brazil, reaching approximately 2.52 million tons.
For the entire year 2023, production amounted to about 31.87 million tons, marking a 6.5% decrease compared to 2022. Domestic sales witnessed a 4.4% year-on-year reduction, totaling 19.4 million tons. During this period, steel exports amounted to 11.7 million tons, valued at US$9.8 billion, showing annual declines of 1.8% and 9.7%, respectively.
Contrastingly, steel imports in 2023 experienced a robust 50% year-on-year increase, reaching 5 million tons, with a total value of US$5.9 billion. This represents a growth of 21.2% compared to the same period in 2022.
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