According to Brazil's steel trade data, December of last year was a positive month for the Brazilian steel industry, with a 19% drop in flat-rolled steel imports accompanied by a 12% increase in steel product exports.

During the month, flat-rolled steel exports increased 72% year-on-year, while long steel exports fell 12%, for the first time in a long time that flat-rolled steel has outperformed long steel.

However, Banco Safra maintained a relative preference for long steel over flat-rolled steel in Brazil's steel market as imports of long steel seemed to be controlled well.