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Sergio Leite, the president of the Brazilian steelmaker Usiminas, commented in an interview that, according to data from the Brazilian Steel Institute (IABr), the country''s steel sector should close this year with a growth of 24% in apparent steel consumption year and should maintain this high trend in 2022.
IABr estimated that apparent steel consumption will reach 26.7 million tons in 2021, an increase of 24.3%. Meanwhile, crude steel production could grow by 14.7% to 36 million tons and domestic sales to increase by 17%, compared to 2020.
It should be highlighted that, despite the fact that the Brazilian steel companies are producing heavily to meet the demand of the domestic market, the utilization of installed capacity is only around 70%.
IABr pointed out that obviously the increase in steel production was served more to foreign markets than the domestic market.
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