Domestic demand growth shaving Brazil steel exports

Newswire

SAO PAULO, Brazil, Aug 18 (Reuters) - Brazilian steel makers, already at the peak of capacity, said on Wednesday they are having to pare back exports to meet growing domestic demand and large investments will be needed in the next few years. "If GDP here grows 3 percent a year, steel demand will grow 5.7 percent and we will have unmet demand of 10 percent abroad in 2009," Usinas Siderurgicas de Minas Gerais SA (Usiminas) president Rinaldo Campos Soares said at a seminar on the sector ...

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