Brazil's August crude steel output fell by 3.7% year-on-year, consumption rose by 11.4%

According to the latest data from the Brazilian Iron andSteel Association (Aco Brasil), Brazil's crude steel output fell by 3.7%year-on-year in August, while apparent consumption rose by 11.4%. Brazil'scrude steel output in August was 2.85 million tons, down from 2.96 million tonsin August last year, the Brazilian Iron and Steel Association said on September24. Among them, the output of finished steel in August was 1.86 million tons, aslight decrease from the 1.94 million tons in August last year.

In August, apparent consumption of crude steel in Brazilreached 1.94 million tons, a significant increase from the 1.74 million tons inAugust last year, mainly due to the significant increase in domestic sales ofBrazilian steel mills. Domestic sales in August reached 1.7 million tons, up9.2% year-on-year, compared with 1.55 million tons in August last year.

Flat steel sales in August rose 8% year-on-year to 1 milliontons, and long product sales increased 13.5% year-on-year to 665,000 tons. Inthe past few months, Brazilian flat steel producers have been trying to raisethe ex-factory price, but the fierce competition in the domestic market hasmade it impossible for steel mills to raise prices.

As of September 7, Brazil's domestic hot rolled coilreference price was R$2,800-2,900/ton, up slightly from R$2,750-2900/ton onAugust 3.