SAO PAULO, March 12 (Reuters) - Brazilian steelmaker Cia Siderurgica Nacional SA expects to double steel sales on the U.S. market to 600,000 tonnes as the strong dollar is expected to boost profits there, the company’s director of sales said.
Company executives said they expected domestic market demand for steel in Brazil to recover in the second half of 2015. Brazil’s economy is expected to slip into recession this year as high interest rates, rising inflation and a widening corruption scandal weigh on growth.
The country’s currency has weakened nearly 17 percent since the start of the year and is now trading close to 11-year lows. (Reporting by Reese Ewing and Alberto Alerigi Jr; Editing by Chizu Nomiyama)