Brazil steel imports grew by 18pc to a record in 2024 as exports declined.
Steel imports rose to 5.9mn metric tonnes last year from 5mn t in 2023, according to national steel industry body Instituto Aco Brasil. December imports fell by 36pc to 324,000 t from the same month in 2023.
Steel production rose by 5.5pc to 33.7mn t last year from 32mn t in 2023.
Exports totaled 9.6mn t in 2024, an 18pc decline from a year prior, partly because of hold-ups at the federal revenue service. Brazil's apparent steel use — the sum of production and imports minus exports, commonly used to measure steel demand — rose by 8.3pc to 25.9mn t.
Domestic sales rose by 8.3pc, reaching 21.1mn t.
