According to data from the Brazil Steel Institute (IABr), Brazil's steel imports amounted to 548,000 tons in January, increasing by 49.4% compared to the same month a year ago, hitting the highest monthly import volume in history.

Steel imports accounted for 22.8% of the country's steel consumption during the month.

Market participants attributed this growth to rising demand from key industries such as construction, automotive, and energy, coupled with competitive pricing of imported steel.