‘Steel boom’ in Brazil
Bulk steel production in Brazil has grown by seven per cent last month, it has been reported.
Those considering buying property in Brazil could be interested to hear the production of steel reached 3.14 million tonnes last month which shows growth of 6.9 per cent compared to the same period in 2007, according to Brazzil Magazine.
Figures released by the Brazilian Steel Institute (IBS) reveal the production of laminates in August also reached 2.26 million tonnes, which represents year-on-year growth of 3.6 per cent.
Long steel grew by 8.1 per cent reaching 987,900 tonnes.
According to the IBS, the performance was boosted by the civil construction sector which is being encouraged by the investment and development in the country.
Exports of steelworks products also grew by more than one-quarter (25.4 per cent).
Meanwhile, in other news the publication reported last week that President Luiz Inácio Lula da Silva hit out at US bankers blaming them for treating the money markets like casinos while maintaining the Brazilian market is well equipped to weather the current stormy financial climate.
