Brazil increased steel exports to the EU by 9.3 times in January-May

According to the results of January-May 2022, Brazilian steel enterprises increased steel exports to the EU countries by 9.3 times compared to the same period in 2021 – up to 849 thousand tons. This is evidenced by the data of the Brazilian Institute of Steel (IABr), reports Yeih.corp.

European countries have increased demand for Brazilian steel after Russia’s invasion of Ukraine, which prevented both countries from supplying steel to the EU market. In January-May 2021, the EU consumed only 91 thousand tons of steel from Brazil.

According to the data, Brazilian steel accounts for 15% of the EU’s total steel imports. Thus, the shortage of steel from Ukraine and Russia is closed. In 2021, Brazil accounted for only 2% of total steel imports in Europe.

Brazil is one of the ten largest steel producers in the world. In June 2022 country cut steel production by 6.1% compared to the same period in 2021, to 2.9 million tons.

In 2021 Brazil ranked 9th in the global ranking of 64 WSA steel-producing countries, increasing production by 14.7% compared to 2020, to 36 million tons.