INDÚSTRIA SIDERÚRGICA

v. 11, n. 445, agosto, 2026

Abstract

Global crude steel production reached 1.85 billion tonnes in 2025, representing a 1.9% decline compared with 2024, reflecting the slowdown in global demand. In Brazil, crude steel output totaled 33.4 million tonnes in 2025, down 1.4% from the previous year, while the production of steel products decreased by 2.3%. During the first half of 2026, production continued to contract, although semi-finished products recorded growth driven by exports. The sector faces significant challenges associated with high borrowing costs, substantial idle capacity, rising international protectionism, and tariffs imposed by the United States on Brazilian steel products, which have adversely affected exports. At the same time, decarbonization requirements are advancing, particularly through the Brazilian Emissions Trading System (SBCE) and the European Union’s Carbon Border Adjustment Mechanism (CBAM). For 2026 and 2027, market prospects point to relative stability, with a slight decline in production and apparent consumption in 2026, followed by a modest recovery in 2027. Investments are expected to focus primarily on improving operational efficiency and advancing decarbonization initiatives.