European countries have intensified the demand for Brazil's steel after the war between Ukraine and Russia, which caused both countries cannot supply steel to the EU market.

Data from the Brazilian Steel Institute (IABr) showed that the country's steel exports to the European market in the first five months of this year totaled 849,000 tons, a growth of more than 830% compared to the 91,000 tons in the same period of the year. past.

Based on this steel export figure, Brazil accounts for 15% of European steel demand so far this year, filling the gap left by Ukraine and Russia. In the past year, Brazil only had 2% of the total share of this demand in Europe.