It is learned that Brazilian steel sector expecting a relief of its cost structure for 2013, which is able to reduce the deficit registered in 2012. Last year, the federal government released several measures in favor of local steel sector such as maintained better currency exchange rate and increased import tax of imported steel. Besides, the energy price which is key for steel cost structure is down by 20% from this year. According to local steel association IABr, these measures contribute 4% cost down for local steel sector. As for the industry outlook, IABr thinks there numbers in the next quarters will become better but by a gradual way.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62357&division=A6
