LatinNews Daily - 27 April 2022

* Instituto Aço Brasil, an association of Brazilian steel producers, has announced that steel production in Q1 2022 totalled 8.5m tonnes (t), representing a 2.4% decrease compared to the same period in 2021. Nevertheless, the newly released figures for March revealed a monthly production increase of 10.1% compared to February, with steel production in March standing at 2.9m t. Instituto Aço Brasil has maintained its production estimate for 2022, which it made at the end of last year, forecasting year-on-year growth of 2.2%. However, it emphasised the “uncertainties” currently facing the steel sector as a result of Russia’s war in Ukraine, which is “causing unprecedented price increases for primary materials and energy inputs, putting pressure on companies’ production costs”.

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