Brazil’s April 2013 Metal Export Figures Announced
News: According to data from the Brazilian Ministry of Development, Industry and Foreign Trade, the country ' s flat steel exports in April 2013 totalled 180,700 tonnes, reports Steel Orbis. The figure represents a 49.3% m-o-m increase and 60.7% y-o-y increase. The revenue generated by these exports reached US$, up 47.3% m -o-m and 25.8% y-o-y . Meanwhile, Brazil ' s iron ore exports in April 2013 totalled 23.35mn tonne s, climbing 3.4% m-o-m but decr easing 8.6% y-o-y . The value of these exports stood at US$2. 5bn, representing a 1.4% m-o-m increase and a 1.2% y-o-y decline.
BMI View: Metal consumption growth in Brazil will be driven by the automotive, construction and infrastructure sectors in the coming years as investment under Brazil's Growth Acceleration Program is ramped up throughout 2013 and 2014. In particular, we highlight preparations to host the 2014 FIFA World Cup and the 2016 Olympic Games in Rio de Janeiro. We foresee strong metals demand growth on the back of our forecast for 3.9% economic growth on average per annum from 2013 to 2017.