It is reported that Brazil’s steel imports are adjusted upward to total 3.8 million tons for the first ten months in year 2013, according to Brazil Steel Institute, as they saw the highest steel imports in October in three years.
Therefore, it is predicted that Brazil's total steel imports in 2013 are expected to be at 5.7 million tons.
On the other hand, the country's steel exports are analyzed to drop 14.8% year on year to 8.4 million tons while Brazil's crude steel production quantity is foreseen to be 34.5 million tons.
It is said that the main reason lies in the loss of competitiveness of Brazilian steel products and oversupply in the international market. The weaker than expected dollar and high production cost of steel in Brazil can all contribute to the causes.
