Long steel demand in Brazil fell year on year in October but growth expectations remain in place for this year and 2019, Gerdau chief executive officer Gustavo Werneck said.
"We had already envisioned some slowdown during the fourth quarter as seasonal factors kick in," Werneck told Fastmarkets on the sidelines of a partnership launching event on Wednesday November 28. "What is important is that 2018 and 2019 will record growth for long steel demand."Brazilian steel institute A??o Brasil previously estimated that apparent consumption in the country will total 20.12 million tonnes in 2018, 4.9% higher than last year.Apparent long steel usage fell to 647,000 tonnes in October,...