JPMorgan 2026-06-21

Brazil Steel: May IABr: Tariffs Continue to Fence Out Foreign Steel

Report Coverage

Broker
JPMorgan
Region
United States, Latin America
Report Type
Market Report
Primary Focus
Brazil Steel

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Report Summary

May-26 May-25 y/y Apr-26 m/m YTD Apparent Consumption (kt) 2,068 2,407 -14.1% 2,115 -2.2% -4.0% Flat (kt) 1,252 1,520 -17.6% 1,226 2.1% -3.6

Key Takeaways

  • Apparent steel consumption reached 2,068kt in May, down 14.1% y/y and LatAm Metals & Mining
  • 2% m/m. The annual decline was driven by a 17.6% fall in flat product
  • Domestic sales increased 1.4% y/y and were relatively flat (+0.2%) versus the
  • International sales also improved both year-over-year (+26.2%) and month-
  • Crude steel production totaled 2,769kt, up 2.3% y/y and 3.6% m/m, driven
  • Steel imports fell to 312kt, down 55.4% y/y and 14.0% m/m, bringing the

Why This Report Matters

JPMorgan's 10-page analysis on "Brazil Steel: May IABr: Tariffs Continue to Fence Out Foreign Steel" provides institutional-grade insights for investors and professionals seeking to understand current market dynamics and investment implications in this space.

Topics Covered

Tariff Brazil Steel: IABr: Tariffs

Companies Mentioned

Latin America Equity Research June Brazil Steel May Tariffs Continue Fence Out Foreign Steel Instituto Brasil May Basic Materials Summing

Who this summary is for

This summary is for users researching the JPMorgan Brazil Steel report. It helps users review Brazil Steel: May IABr: Tariffs Continue to Fence Out Foreign Steel coverage, key takeaways, and related broker or sector research paths across Tariff, Brazil, Steel:; Latin America Equity Research, June.

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