Brazil produced 2.7 million tons of crude steel in August, down 4% from the previous month and 6.2% from a year earlier, according to data from the Brazilian Steel Institute (IABr).
Domestic sales edged up 0.2% to 1.9 million tons over the same comparison periods, while apparent steel consumption rose slightly by 0.3% to 2.2 million tons for the month.
Notably, the Steel Industry Confidence Indicator dropped 0.9% in September to 42.1 points, marking its fourth straight monthly decline. A reading below 50 points indicates a lack of confidence among CEOs in the domestic steel sector.
