Brazil Steel industry to better in 2013 than 2012: IABr

BRASILIA (Scrap Monster): Steel industry of Brazil is expected to better in 2013 than 2012, said Marco Polo de Mello Lopes, Chairman of Brazilian Steel Institute (IABr).

The betterment will be due to the role of the government to hold the exchange rate, the adoption of a policy of trade protection and more aggressive package to reduce the cost of energy, he added.

IABr is expected that the fiscal war between the ports in some states that reduce ICMS rate to encouraging imports to end next will and reduce the pressure on steelmakers in the country from imported products.

According to Latin American Association of Steel (Alacero), the imports of China to Latin America from this January to August increased 38% in value and 9.5% in volume, about US$3 billion and 1.9 million tons respectively, compared to the same period of last year.