Brazilian apparent steel use is showing signs of recovery and will increase significantlyfrom next year, ArcelorMittal Long Carbon Latin America chief executive officer Jefferson de Paula said this week.
Brazil's steel consumption reached an all-time high of 28.02 million tonnes in 2013, according to the national steel association, Instituto A??o Brasil, De Paula told delegates at the Latin American steel association Alacero's annual conference in Buenos Aires on Wednesday November 13.While the recovery will begin in 2020, usage will not return to 2013's record level until 2024, he added. Brazil is now entering an economic recovery cycle - annual growth in gross domestic product (GDP) of 2-3% for the next four years that will result in a 5-6% increase in apparent steel use in 2020, he added.ArcelorMittal became the...