Brazilian foundry's Q1 production down by 2.5% YoY
BN americas citing a spokesperson with local foundry association Abifa reported that foundry production within Brazil totaled 755,760 tonnes in the first three months of 2007 down by 2.5% YoY from 775,048 tonnes in same period 2006.
Export volume in the first quarter fell 2.3% to 174,043 tonnes compared to 178,228 tonnes in 1Q of 2006 while the value of shipments abroad FOB slipped 1.7% to USD 321 million from USD 327 million in the first three months of 2006.
The spokesperson said the beginning of the year is usually a weak period, due to holidays and fewer working days. Some companies take this time to carry out maintenance works. He said meanwhile the outlook for the remainder of 2007 is positive with the forecast of increasing foundry production due to strong demand, despite the Real's appreciation versus the USD, Abifa was founded in 1969, and boasts members such as Tupy, Foseco and Teksid.
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