Alacero, the Latin American steel association, has reported that in the January-July period of this year apparent finished steel use in Latin America and the Caribbean totaled 40.5 million mt, up one percent as compared with the same period of 2013. The highest increases were registered in Mexico, up 1.6 million mt (+14%), in Colombia, up 292,000 mt (+14%) and in Argentina, up 218,000 mt (+8%), while finished steel consumption in Venezuela, Brazil, Ecuador and Chile decreased by 810,000 mt (-43%), 446,000 mt (-3%), 251,000 mt (-20%) and 120,000 mt (-7%) respectively, all on year-on-year basis. In July alone, apparent finished steel use in Latin America and the Caribbean amounted to 5.9 million mt, up one percent year on year.
In the first seven months of the current year, regional finished steel trade registered an annual deficit of 8.5 million mt, increasing by 13 percent compared to January-July 2013. In the given period, all Latin American countries presented steel trade deficits, led by Mexico with an imbalance of 2.8 million mt. Other countries that showed significant deficits were Colombia (1.3 million mt), Peru (913,650 mt) and Chile (882,863 mt).
On the other hand, Latin American crude steel production amounted to 43.8 million mt in the January-August period of this year, in line with the same period of 2013. In August alone, crude steel production in the region amounted to 5.7 million mt, down two percent year on year.
Meanwhile, in the first eight months of this year finished steel production in Latin America and the Caribbean decreased by one percent year on year, amounting to 37.3 million mt.
