Imports to Brazil of Chinese iron and steel and its derivatives grew at a year-on-year rate of 8% in 2024, to US$3.819 billion, according to data from the Department of Development, Industry, Foreign Trade and Services (MDIC).
Of this total, Brazilian purchases of iron and steel from China were 2,333 million dollars, while those corresponding to derivatives totaled 1,486 million dollars.
In this subdivision, the first of these exports fell 1% and the second remained flat, at annual rates.
Chinese steel
World steel production reached 1,883 million metric tons in 2024, registering a 0.8% drop from 2023. China led with 1,005.1 million tons in the global ranking, followed by India with 149.6 million, Japan with 84.0 million and the United States with 79.5 million.
Brazilian iron and steel imports from China, in millions of dollars:
- 2018: 781.
- 2019: 724.
- 2020: 605.
- 2021: 1,780.
- 2022: 2,053.
- 2023: 2,365.
- 2024: 2,333
From China, steel exports reach numerous countries, such as Europe, the United States and Mexico. However, they face anti-dumping duties, countervailing measures and other trade restrictions.
In 2023, imports of flat steel products in Brazil grew by 42% compared to 2022. This increase was largely due to low-cost steel from China, which affected Brazilian steel production.
To curb this impact, in June 2024, Brazil implemented a quota system for one year. Imports exceeding the established limit face a 25% tariff. Despite this measure, steel imports into Brazil increased by another 11% in 2024, again driven by low-priced Chinese products.
That same year, the Brazilian government initiated anti-dumping investigations on cold-rolled and coated steel from China. These investigations are still ongoing.
Economic context
Ternium believes that a global or regional economic slowdown could encourage unfair practices in the steel sector.
In addition, the recent outbreak of trade measures in the United States has generated great uncertainty in global markets.
Brazilian imports of iron and steel derivatives from China, in millions of dollars:
- 2018: 1,419.
- 2019: 1,402.
- 2020: 1,265.
- 2021: 2,812.
- 2022: 3,232.
- 2023: 3,536.
- 2024: 3,819.