According to the 2024 financial results of ArcelorMittal's subsidiary in Brazil, the second largest steelmaker in the world, produced 15.3 million tons of steel in Brazil, an increase of 3.8% compared to the previous year.

Furthermore, the sales for the year 2024 reached 15.1 million tons, 5.2% more than in 2023. Among all the sales, 55.5% were for the domestic market and 44.5% were for foreign markets.

The results could have been better if there were not so many steel imports into the country. In 2024, steel imports in Brazil reached a record high, totaled at 5.9 million tons, representing a yearly increase of 18.2%; this amount also represented 18.5% of Brazil's apparent steel consumption.