Brazil’s steel demand will grow at least 5 percent next year as the government prepares Rio de Janeiro for the 2014 soccer World Cup and the 2016 Olympic Games, according to ArcelorMittal.
There is pent-up demand for steel used in stadiums and other public works because some projects are behind schedule for the two sporting events, Benjamin Baptista, who heads the Brazil unit of the world’s largest steelmaker, said in an interview in Santiago today.
“Things are this point are somewhat delayed,” Baptista said. “We will see better volumes next year.”
Brazilian steel consumption will grow between 5 percent and 6 percent in 2013 after almost stagnant growth this year, Baptista said. ArcelorMittal, based in Luxembourg, continues to maintain expansion projects in the South American country on hold and may boost shipments in the domestic market by reducing exports, he said.