Brazil steel group IABr cuts output, sales forecasts

14 July 2015

Brazilian steel mills expect raw steel sales to fall 15.6 percent in 2015 from the previous year and consumption to fall 12.8 percent, industry group IABr said on Monday.

Previously, the institute had expected sales to fall a more modest 8 percent and consumption to fall 7.8 percent. Steel output will likely fall 3.4 percent, IABr said, revising its previous estimate of an annual increase of 6.5 percent.