SMM11 14-Paranapanema, Brazil's only copper smelter, has just reported third-quarter results for 2018, offering some cautious signs of optimism. Compared with the same period last year, cathode copper production remained basically unchanged at 103000 tons as of September. Its smelter in Dias d'Avila, Bahia, closed for 35 days for regular maintenance between March and April 2018, but without this, the plant would have increased production significantly. In addition to processing more cathode copper internally, the group's strategy is now focused on exporting more refined copper overseas.
The group's brass mill production rose 4.8 per cent from a year earlier to 31000 tons, compared with 29000 tons in the same period in 2017. These operations are located in San Andre in the state of Sao Paulo.
"the Brazilian economy fell 3.6 percent in 2016 and grew by only 1.0 percent in 2017," Roskir said. The national bank expects growth of 2.6% in 2018, but has been revised back to 1.6% as a result of the medium-term forecast. The widespread impact of the national trucking strike in May seriously disrupted logistics in almost all sectors of the economy. Recently, economic pressures in Argentina have had a negative impact on Brazil, which is one of its most important trading partners. However, some end-user industries performed strongly, with car production rising 10.5 per cent year-on-year to 2.2 million vehicles between the first and third quarters of 2018. Domestic registrations are growing faster, but exports are falling. Even so, demand for enamelled wire is growing strongly for motors in the automotive and household appliance industries.
(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)
