According to the data from Brazil Steel Institute (Instituto Aço Brasil, IABr), Brazilian crude steel output totaled 2.6 million tons in July this year, hiking by 3.5% compared to the same month a year ago.

IABr said that the current capacity utilization rate remained at a low level at about 60.5% despite an improved domestic market condition.

Increasing exports will be helpful for the current condition, and the resumption of Reintegra will reduce the export tax burden for Brazilian manufacturers, which could raise Brazil’s competitiveness in the international market.