RIO DE JANEIRO (Dow Jones) -- Brazil's production of crude steel
was 2.9 million metric tons in October, 2.7% lower than a year
earlier, the country's steel institute IABr said Monday.
Domestic market sales of steel products nonetheless rose to 1.8
million tons, 13.2% higher than a year earlier when the market was
flooded with imports, which have fallen off this year, according to
institute data.
Overall consumption of steel products in Brazil however fell
3.5% in October from a year earlier, to 2.1 million tons, amid an
economic slowdown, IABr said.
In the 10 months to the end of October, steel imports into
Brazil fell to 3.1 million tons, 38.3% less than in the same 2010
period.
Brazil's exports of steel products showed the opposite trend,
growing to 9.1 million tons worth $7.1 billion in the 10-month
period, up 31.8% in tonnage terms and 61.2% in value from a year
earlier, IABr said.
-By Diana Kinch, Dow Jones Newswires; 55 21 7564 4495;
diana.kinch@dowjones.com
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