German & Brazilian Steel Update
German crude steel output dropped to a five-month low of 3.5 Mt in July, however, this was still up by 3.6% year-on-year, according to the country’s steel federation. Output in January-July was up by 1.9% on the same period last year at 25.7 Mt. Meanwhile, Brazilian crude steel production rose by 1.0% to 2.8 Mt in July, supported by higher domestic consumption and exports, Instituto Aço Brasil reports. At 19.6 Mt, production in the first seven months of the year was up by 10.6%.