Forecast: Raw Steel Production in Brazil

Brazil's raw steel production stood at 35.63 Million Metric Tons in 2023. Analyzing the trend from 2013 reveals fluctuations and moderate growth. The production dipped from 34.16 MMT in 2013 to a low of 29.01 MMT in 2020 but recovered strongly to 35.63 MMT by 2023. Year-on-year variations were significant, notably with a 16.43% drop in 2020 and a 21.28% resurgence in 2021. Recent years exhibited moderate increases with 0.65% in 2022 and 0.63% in 2023. The average annual growth over the last five years (CAGR) stood at 0.51%. Forecasts until 2028 predict continued stable growth, exemplified by a 0.51% forecasted 5-year CAGR and an overall 5-year growth rate of 2.56%.

Future trends to watch for include:

- Influence of global economic conditions on steel demand.

- Impact of technological advancements in steel production.

- Environmental regulations and sustainability initiatives in the steel industry.

- Fluctuations in raw material prices and their effects on production costs.

- Expansion of Brazil's infrastructure and construction activities driving steel demand.