Thursday, March 4, 2021

Steel production declines 4.9% in 2020, but sector minimizes risk of shortages – Prime Time Zone

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At the height of the pandemic, in April last year, the segment projected a 19% drop in consumption

Marcelo Benedicto / Agência IBGE NotíciasFor 2021, the institute forecasts a 6.7% increase in crude steel production and, in apparent consumption, an increase of 5.8%

The production of steel declined 4.9% last year compared to 2019, which represents a drop of 30.9 million tons. Consumption reached 21 million tons, an increase of 1.2%. At the height of pandemic, in April 2020, the sector predicted a 19% drop in consumption, but in the second half the segment started to recover together with criticisms of the lack and increase in products. The president of Instituto Aço Brasil, Marco Polo de Mello Lopes, countered the criticisms by explaining that large companies, automakers, machinery and equipment, civil construction buy directly from steel companies and the market is normalized.

“The plants are breaking records, as you have seen. So if there is any degree of shortage it is in the area of ​​distribution. I would say that these companies are very unlikely to have any supply problems today. Companies that lift volumes and do not buy at the plants because they have no scale, have to resort to the network, ”he said. At domestic sales grew 2.4%, 19 million tons. Exports fell 16%, 10 million tons. Revenue fell 26%, 5.36 billion dollars. For 2021, the institute forecasts a 6.7% increase in crude steel production and, in apparent consumption, an increase of 5.8%.

* With information from reporter Marcelo Mattos

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Steel production declines 4.9% in 2020, but sector minimizes risk of shortages - Prime Time Zone