Exports
mainly coated and uncoated flat steel products
Europe represents 13.4% of total share of Brazil's
exports
Exports of Brazilian steel products to Europe jumped 710% in the first half of
2022 to 909,828 mt, compared to 112,221 mt in H1 2021, filling the void left by
regional suppliers Russia and Ukraine, according to latest data from national
steel association Aço Brasil.
The export
volume to Europe represented 13.4% of total Brazilian exports in January-June,
compared to 2.2% in the same period of 2021, and was mainly composed of coated
and uncoated flat steel products.
The supply restrictions
derived from the Russia-Ukraine war also prompted Brazil to increase shipments
to neighboring countries in Latin America, totaling at 2.12 million mt in H2,
up 66.7% on the year. Shipments to Asia followed, totaling 174,663 mt, up 3.1%
on the year, and shipments to Africa totaled 128,101 mt, up 594% on the year.
The US remained the
main destination of Brazilian steel products, mainly consisting of slabs, at
3.24 million mt, but this figure was down 9.4% compared to H2 2021 exports.
The increase in exports
was also favored by attractive foreign exchange rates and strong prices,
coupled with a slow domestic market.