Report Title

Industry Research Report on the Steel in Brazil.

Value Chain outline

The steel industry in Brazil operates through a complex value chain, starting from the extraction of raw materials to the distribution and consumption of finished steel products. This chain involves several interconnected steps and segments, each with distinct activities and players.

The primary steps in the value chain include:

1. Mining and Raw Material Preparation: This initial step involves the extraction of key raw materials, primarily iron ore, but also includes other materials like coal, limestone, and scrap metal. Activities include exploration, extraction (open pit or underground mining), crushing, grinding, and beneficiation to prepare the raw materials for the steelmaking process.

   • Segments: Iron ore mining, Coal mining, Limestone extraction, Scrap metal collection and processing.
   • Types of players: Large mining corporations, smaller independent mines, raw material suppliers, scrap metal collectors and processors.
   • Main activities: Geological surveys, drilling, blasting, excavation, transportation of raw materials, crushing, screening, grinding, magnetic separation, flotation, sintering, pelletizing, scrap metal sorting, cleaning, and compacting.
   • Examples of key players: Vale (major iron ore producer), CSN Mineração (part of CSN, also a significant iron ore producer), Gerdau (involved in iron ore mining and a major recycler of scrap metal), Usiminas (also has mining operations). There are also numerous smaller mining companies and scrap metal businesses.

2. Steel Production (Siderurgy): This is the core of the value chain where raw materials are transformed into various types of steel. There are two main routes: the integrated route (using primarily iron ore in blast furnaces) and the semi-integrated route (using primarily scrap metal in electric arc furnaces).

   • Segments: Integrated steel mills, Semi-integrated steel mills (mini-mills).
   • Types of players: Large integrated steel companies, smaller semi-integrated steel companies.
   • Main activities:
     • Integrated Mills: Sintering/pelletizing of iron ore, coke production from coal, ironmaking in blast furnaces (producing pig iron), steelmaking in basic oxygen furnaces (converting pig iron into crude steel), casting (producing semi-finished products like slabs, billets, and blooms).
     • Semi-integrated Mills: Melting scrap metal in electric arc furnaces, refining the molten metal, casting (producing semi-finished products, often billets for long products).
   • Examples of key players: ArcelorMittal Brasil (integrated and semi-integrated), Gerdau (semi-integrated and integrated), CSN (integrated), Usiminas (integrated), Ternium Brasil (integrated), Vallourec (specializes in seamless tubes), Sinobras, Aço Verde do Brasil (AVB), Aperam South America, Siderúrgica Simec.

3. Rolling and Finishing: Semi-finished steel products are shaped and processed into final steel products with specific dimensions, shapes, and properties.

   • Segments: Hot rolling, Cold rolling, Coating (galvanizing, painting), Tube manufacturing, Wire drawing.
   • Types of players: Integrated steel companies with rolling mills, specialized rolling mills, tube manufacturers, wire drawers. These are often part of the larger steel companies.
   • Main activities: Heating semi-finished products, passing them through rolling stands to reduce thickness and create desired shapes (e.g., plates, sheets, coils, beams, bars, rods), pickling (removing scale), annealing (heat treatment), temper rolling, applying protective coatings, drawing wire from rods, manufacturing seamless or welded tubes.
   • Examples of key players: ArcelorMittal Brasil (produces long and flat steel products, including profiles), Gerdau (produces long steels and special steels, including structural profiles), CSN (produces flat and long steels), Usiminas (specializes in flat steels), Vallourec (specializes in tubular solutions).

4. Distribution and Service Centers: This step involves the storage, processing, and distribution of finished steel products to various end consumers.

   • Segments: Steel distributors, Steel service centers.
   • Types of players: Large national distributors, regional distributors, service centers offering value-added processing.
   • Main activities: Purchasing steel from producers, warehousing, inventory management, cutting, slitting, leveling, shaping, drilling, welding, painting, just-in-time delivery to customers.
   • Examples of key players: ArcelorMittal Gonvarri Brasil (service center), MAG Aliança Automóveis do Brasil (service center specializing in automotive), Aperam Inox Serviços Brasil (distributor and service center for stainless steel), Coppermetal (distributor), Lapefer (distributor), Grupo Açotubo (distributor and solutions provider), Aço Brasil Indústria e Comércio e Distribuidora de Aço, Açominas Soluções em Aço (service center), Brasil Aços (distributor of steel tubes).

5. End Consumption: The final step where steel products are used by various industries and sectors.

   • Segments: Construction (civil and infrastructure), Automotive, Machinery and Equipment, Home Appliances, Packaging, Oil and Gas, Agriculture, among others.
   • Types of players: Construction companies, automotive manufacturers, machinery producers, appliance manufacturers, packaging companies, oil and gas companies, agricultural equipment manufacturers.
   • Main activities: Utilizing steel as a raw material or component in manufacturing, construction, and infrastructure projects.
   • Examples of key players: Major construction firms, global and local automotive companies (e.g., assembly plants), manufacturers of industrial and agricultural machinery, white goods producers. The Southeast region, particularly São Paulo, is the largest consumer of steel products in Brazil. The automotive sector is a significant consumer of flat steel, while civil construction is a major consumer of long steel products.

Volumes and Sizes:

In 2024, Brazil's crude steel production reached 33.7 million tons, a 5.3% increase compared to 2023. The forecast for 2025 is a slight decrease of 0.6%, totaling 33.58 million tons.

Domestic steel sales in Brazil totaled 21.2 million tons in 2024, an increase of 8.3% compared to 2023. For 2025, domestic sales are projected to decrease by 0.8% to 21 million tons.

Apparent steel consumption (domestic sales + imports) in Brazil reached 26 million tons in 2024, an increase of 8.3%. The expectation for apparent consumption in 2025 is a 1.5% increase to 26.66 million tons.

Imports of steel into Brazil saw a significant increase of 18.2% in 2024 compared to 2023, reaching 5.9 million tons, the highest volume recorded since 2013. China was the main origin of these imports, accounting for 3.3 million tons in 2024. Imports continued to grow in January 2025, with a 49.4% increase in volume compared to January 2024. The forecast for imports of rolled products in 2025 is a jump of 11.5% to 5.63 million tons.

Steel exports from Brazil decreased by 18.1% in 2024, totaling 9.6 million tons. The United States remained the main destination for Brazilian steel exports, receiving 5.8 million tons in 2024.

Minas Gerais was the leading state in crude steel production in Brazil in 2024, representing 30.1% of the national total.

Value Chain Summary Table

Value Chain Step	Main Activities	Segments	Types of Players	Key Player Examples	Estimated Volumes/Sizes (2024)
Mining and Raw Material Prep.	Extraction, crushing, grinding, beneficiation of iron ore, coal, limestone; scrap processing.	Iron ore mining, Coal mining, Limestone extraction, Scrap metal processing.	Mining corporations, Independent mines, Raw material suppliers, Scrap processors.	Vale, CSN Mineração, Gerdau, Usiminas.	Iron ore production (major players in millions of tons), Scrap metal processed (volume data less available).
Steel Production (Siderurgy)	Ironmaking (blast furnace), Steelmaking (BOF, EAF), Casting (slabs, billets, blooms).	Integrated steel mills, Semi-integrated steel mills (mini-mills).	Large integrated steel companies, Smaller semi-integrated steel companies.	ArcelorMittal Brasil, Gerdau, CSN, Usiminas, Ternium Brasil, Vallourec, Sinobras, AVB, Aperam South America, Simec.	Crude Steel Production: 33.7 million tons (2024). Minas Gerais: 30.1% of national production.
Rolling and Finishing	Hot rolling, Cold rolling, Coating, Tube manufacturing, Wire drawing.	Hot rolled products, Cold rolled products, Coated steel products, Tubes, Wire rods.	Integrated steel companies with rolling mills, Specialized rolling mills, Tube manufacturers, Wire drawers.	ArcelorMittal Brasil, Gerdau, CSN, Usiminas, Vallourec.	Laminated production: 32.6 million tons (2024 - Minas Gerais 9.4 million tons). Specific volumes by product type less readily available.
Distribution and Service Centers	Warehousing, inventory management, cutting, slitting, shaping, delivery.	Steel distributors, Steel service centers.	National distributors, Regional distributors, Service centers.	ArcelorMittal Gonvarri Brasil, MAG Aliança Automóveis do Brasil, Aperam Inox Serviços Brasil, Coppermetal, Lapefer, Grupo Açotubo, Aço Brasil Indústria e Comércio e Distribuidora de Aço, Açominas Soluções em Aço, Brasil Aços.	Volume of domestic sales handled: 21.2 million tons (2024). Volume of imports handled by distributors. (Data less specific for distributors).
End Consumption	Utilizing steel in manufacturing, construction, and projects.	Construction, Automotive, Machinery & Equipment, Home Appliances, Packaging, Oil & Gas, Agriculture.	Construction companies, Manufacturers, Project developers.	Major construction firms, Automotive assembly plants, Machinery manufacturers, Appliance producers. (Specific examples vary widely by sector).	Apparent Consumption: 26.0 million tons (2024). Consumption by sector (e.g., Automotive, Construction) represents significant portions of apparent consumption.

Examples of Main Players

ArcelorMittal Brasil: As part of the global ArcelorMittal group, it is the largest steel producer in Brazil and Latin America, especially after incorporating the Pecém Unit. The company has a strong presence in both long and flat steel markets and is involved in mining. They produce a wide range of steel profiles for various applications, including civil construction. In 2023, ArcelorMittal's production in Brazil, Argentina, and Costa Rica was 14.8 million tons, with sales of 14.4 million tons and revenue of R$ 69.8 billion. They are investing in a joint venture for a wind farm and focus on sustainable production and decarbonization. ArcelorMittal also operates service centers in Brazil.

Gerdau S.A.: The largest Brazilian steel producer, Gerdau is a key player in long steels in the Americas and special steels globally. They also produce flat steels and iron ore in Brazil. Gerdau operates mines in Minas Gerais and is investing in its mining operations with a focus on sustainability and decarbonization. Their product range includes structural profiles. In 2024, Gerdau's crude steel production was 11.7 million tons (with 2.7 million tons in 4T24), and sales were 10.9 million tons. In 2023, sales were 11.3 million tons and consolidated revenue was R$ 68.9 billion. Gerdau Açominas S.A., part of Gerdau, had revenue of R$ 26.830 billion in Brazil in 2023 and operates a service center. Gerdau is also one of the main recyclers of scrap metal in Latin America.

Companhia Siderúrgica Nacional (CSN): A major Brazilian and Latin American steel company with diverse operations including mining, logistics, cement, and energy. While historically focused on flat steels for industry, CSN has expanded into long steels for civil construction. The company possesses significant mining assets and logistics infrastructure. In 3Q24, CSN's steel production was 995 thousand tons, and Brazil steel sales were 866.5 thousand tons. Their main plant has a crude steel production capacity of approximately 6 million tons/year. CSN Mineração, their mining arm, had a production of 42 million tons in 2024 and revenue of R$ 13.009 billion in the same year. CSN's consolidated revenue in 2024 was R$ 43.6 billion.

Usiminas (Usinas Siderúrgicas de Minas Gerais S.A.): A leading company in the Brazilian flat steel market with an integrated production system. Usiminas serves a diversified clientele and is recovering from significant maintenance on a key blast furnace. They also have mining operations. In 2023, Usiminas' steel sales were 4.027 million tons, and mining production was 8.8 million tons with sales of 8.5 million tons in 2024. Their consolidated revenue in 2024 was R$ 25.9 billion, and Mineração Usiminas had revenue of R$ 3.5 billion in 2023. Their products primarily serve the automotive, capital goods, and consumer goods sectors.

Ternium Brasil: Part of the Techint group, Ternium is a large steel company in Brazil. While specific recent volume and revenue data for Brazil were not available in the provided sources for 2023/2024, Ternium is mentioned as a key player in the Latin American steel value chain and focuses on sustainable production.

Volumes and Sizes

In 2024, Brazil produced 33.7 million tons of crude steel, a 5.3% increase from 2023. Projections for 2025 estimate a slight decrease to 33.58 million tons.

Domestic steel sales in Brazil reached 21.2 million tons in 2024, an 8.3% growth compared to the previous year. The forecast for 2025 is a minor decrease to 21 million tons.

Apparent consumption of steel products in Brazil, which includes domestic sales and imports, totaled 26.0 million tons in 2024, an increase of 8.3%. This figure is expected to rise by 1.5% in 2025, reaching 26.66 million tons.

Imports of steel into Brazil saw a substantial increase in 2024, growing by 18.2% to 5.9 million tons, the highest volume recorded in the historical series. China was the primary source of these imports. Imports continued their upward trend in early 2025. Rolled product imports are projected to increase by 11.5% in 2025.

Brazilian steel exports experienced a decline of 18.1% in 2024, totaling 9.6 million tons. The United States remained the main export market.

Minas Gerais contributed significantly to the national crude steel production in 2024, accounting for 30.1% of the total. The state also led in the production of semi-finished steels for sale and rolled products.

Major players like ArcelorMittal Brasil reported production of 14.8 million tons (including nearby countries) and sales of 14.4 million tons in 2023, with revenue of R$ 69.8 billion. Gerdau's crude steel production was 11.7 million tons in 2024, with sales of 10.9 million tons and consolidated revenue of R$ 67 billion in the same year. CSN's main plant has a crude steel capacity of approximately 6 million tons/year, and CSN Mineração produced 42 million tons of iron ore in 2024. Usiminas sold 4.027 million tons of steel in 2023.

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