Colombia Is an Important Market for The Steelmaking Countries with Oversupply Problem

It is learned that Colombia is an important market for the steelmaking countries with oversupply problem, such as Brazil, Turkey and China.

For example, steel giant in Brazil Usiminas reported that the company sold 1.7 million tons of steel in Q3 this year. 490,000 tons of them were exported and 17% were shipped to Colombia.

Besides, the Nucor Colombia business unit also started its steel importation in the country and finished the sales revenue of US$ 11 million in the first 7 months this year.

However, Colombian’s steel sector produced 19.9% more in the first 8 month year compared to the same period in 2011.

According to the president of Gerdau Colombia unit, the growth is mainly driven by the good performance of construction sector.