U.S. Considered Top Buyer of Brazilian Steel in May Jun 24, 2004

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The U.S. was the top buyer of Brazilian steel in May, overtaking China, the biggest market for local steel exports since October last year, according to data from steel association IBS.

In the first four months of 2004, the U.S. imported 1.03 million tons of steel worth U.S. $334 million, or 18.3 percent of Brazil's total steel sales abroad, IBS said. China held second place, with 755,378 tons worth $266 million, or 14.6 percent of Brazilian steel exports.

In 2003, China was the top importer of Brazilian steel with 2.4 million tons worth $730 million, followed by the U.S. with 2.1 million tons worth $591 million. (Business News Amercias)

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