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Special Report: Stronger outlook for Brazil steel demand.
Issued at 2013-08-26
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Brazilian steelmakers are expected to benefit from both higher export and domestic sales this year, according to Enrico Glausch of trading company Coutinho & Ferrostaal. Glausch made his remarks Thursday during Platts' Latin American Steel Forum in São Paulo.
Glausch said he expects that exports will rise even higher than the anticipated 8 million metric tons projected by the Brazilian Steel Institute (IABr), due to the weak exchange rate of Brazil's Real with the US dollar. Friday's market closed at Real 2.42 Real/dollar compared with 2.04 Real/dollar at the beginning of January, according to Brazil’s central bank.
Source: Steel
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