In 2016, China’s overall finished steel exports amounted to 106.2 million mt, down three percent, while China’s finished steel exports to Latin America totaled 7.6 million metric tons, decreasing by 19 percent, both on year-on-year basis, according to Alacero, the Latin American steel association. The value of Latin America's finished steel imports from China in the given year amounted to $3.65 billion, while the average price of these finished steel shipments to Latin America was $478/mt, in the line with the average price of Chinese finished steel shipments to the rest of the world.
In particular, in 2016 the average price in Central America of finished steel imports from China was $394/mt, 18 percent lower than the average price of Chinese shipments to the rest of the world, the average price in Costa Rica of finished steel imports from China was $426/mt, 11 percent lower than the average price of Chinese shipments to the rest of the world, the average price of Chinese imports in Peru was $429/mt, 10 percent lower, and the average price in Colombia of finished steel imports from China was $438/mt, eight percent lower than the average price of Chinese shipments to the rest of the world.
Meanwhile, in 2016, Latin America received 3.9 million mt of flat steel and 2.6 million mt of long steel from China.