Brazil’s steel outlook more positive for 2007

Dec 26, 2006 | 03:06 PM | Diana Kinch

The outlook for Brazil's steel sector in 2007 is more positive than in 2006, despite continuing concerns over relatively low gross domestic product (GDP) growth and China's continuation as a major steel exporter, according to Marco Polo de Mello Lopes, vice president of the Instituto Brasileiro de Siderurgia (IBS).

Brazilian raw steel production is seen growing in 2007 to 34.87 million tonnes, up 12.8 percent from 2006, when output was hit by the accident at Cia. Siderurgica Nacional's No. 3 blast furnace.

Output also will grow because of Cia. Siderurgica Tubaro's 2.5-million-tonne-per-year No. 3 blast furnace, which is expected to come on-stream in first quarter of 2007, and a second blast furnace, with capacity of 1.5 million tonnes per year, at Gerdau Açominas SA, which is set to start during the second half of 2007.....

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