Alacero, the Latin American steel association, has reported that in the first quarter of this year apparent finished steel use in Latin America and the Caribbean totaled 16.4 million mt, up one percent year on year. The highest increases were registered in Colombia, up 18 percent, with an increase of five percent in Brazil and two percent in Mexico, while finished steel consumption in Venezuela, Chile and Peru decreased by 36 percent, 12 percent and seven percent, respectively and remained stable in Argentina, all on year-on-year basis. In March alone, apparent finished steel use in Latin America and the Caribbean increased by three percent year on year to 5.61 million mt.
Meanwhile, in the first four months of this year finished steel production in Latin America and the Caribbean remained stable year on year, amounting to 18.36 million mt. In the given period, the countries that increased their finished steel production year on year were Colombia, up 20 percent, Peru, up four percent and Argentina, up three percent, while Venezuela and Chile outputs dropped 31 percent and 26 percent, respectively. In April alone, finished steel production in the region amounted to 4.78 million mt, down one percent year on year.
Latin American crude steel production amounted to 21.50 million mt in the first four months of this year, increasing by one percent year on year. In April alone, crude steel production in the region amounted to 5.32 million mt, down one percent year on year.
On the other hand in the first quarter of the current year, regional finished steel trade registered an annual deficit of 2.8 million mt, showing little change year on year. In the given period, all Latin American countries, except Argentina, Brazil and the Dominican Republic, presented steel trade deficits, led by Mexico with an imbalance of 795,431 mt. Other countries that showed significant deficits were Colombia (526,645 mt) and Peru (355,700 mt).
