Between January and August 2014, China shipped 5.4 million tons of rolled steel to Latin America, 54 percent more than the 3.5 million metric tons in the same period in 2013, Alacero reported this week.
Alacero said the demand for steel in China is going down, but production remains above 2013 levels, resulting in companies seeking to export from that country to offset its losses in the domestic market.
Total exports of rolled steel from China continue to grow rapidly, reaching 51 million mt between January and August 2014, 40 percent more than in the same months in 2013. This trend is even more aggressive in the case of Latin America, which has established itself as the second destination of choice, from 10 to 11 percent share in January-August 2014 against January-August 2013; and second only to South Korea, which received 8.2 million tons with a share of 16 percent.
In August 2014, Latin America received 714,609 tons of rolled steel from China, growing 1 percent versus the month of July (705,024 metric tons) and registering an increase of 26 percent compared to August 2013 (566,725 metric tons).