Jan.-Oct. steel exports rise 57% to US$2.44bn

Brazilian steel companies CSN, Açominas, Cosipa, Acesita and Gerdau saw January to October export revenues rise 57% compared with Jan.-Oct. 2002, to US$2.44bn from US$1.55bn, according to the the development ministry's foreign trade department (Secex). The main increases were for Gerdau and Açominas, whose exports climbed by over 100% over the period. Strong demand from China was a significant factor behind the increase. For the year as a whole exports are seen at 13.6Mt, up 16.6% on 2002. Export revenue is forecast at US$3.9bn and the sector's trade surplus at US$3bn. DOMESTIC SALES On the other hand, sales on the domestic market are expected to end the year 6% lower than in 2002 at 14.9Mt. "If Brazil obtains a US$23bn trade surplus this year the steel sector will have contributed 15%," said Marco Pólo de Mello Lopes, from the Brazilian Steel Institutue (IBS). by Beth Moreira