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[Ferro-Alloys.com] Automotive production in Brazil plunged in April due to massive shutdowns stemming from the Covid-19 pandemic, affecting steel and scrap markets.
Production in Brazil hit a record low of only 1,800 units, according to data released by national auto association Anfavea on Friday May 8, a decline of 99.3% from 267,600 units in April 2019.
“Carmakers have spontaneously decided to stop production in April to adapt to the new scenario,” Anfavea president Luiz Carlos Moraes said on Friday.
The situation was compounded by steep decreases in exports, with markets shutting down in an attempt to halt the spread of Covid-19.
Automobile sales to the domestic market totaled 55,700 units in April, down by 76% year on year from 231,900 units - the largest decline in history, Anfavea said.
Source: Metalbulletin
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