The Brazilian Steel Institute (IBS) reported Thursday that while Brazil's May steel production of 1.87 million mt was 37.6 percent less than produced in May 2008, it rose by eight percent from April 2009.
According to IBS, May was the best month for Brazilian steel production since November 2008. Still, accumulated steel production for the first five months of the year is down by 41 percent compared to last year, as both IBS and ILAFA reported Thursday.
Brazil is the largest exporter of steel in Latin America and the fifteenth largest in the world.