Alacero, the Latin American steel association, has reported that in 2016 apparent finished steel use in Latin America and the Caribbean totaled 61.9 million mt, down eight percent as compared to 2015. The highest increases were registered in Bolivia, up 46,000 mt (+8%), Peru, rising by 196,000 mt (+7%), Panama, up 32,000 mt (+3.0%), and Mexico, up 649,000 mt (+3.0%), while finished steel consumption decreased by 1.4 million mt (-68%) in Venezuela, declined by 1.06 million mt (-20%) in Argentina, dropped by 3.07 million mt (-14%) in Brazil, diminished by 215,000 mt (-8%) in Chile, and narrowed by 213,000 mt (-5%) in Colombia, all on year-on-year basis.
Last year, regional finished steel trade registered an annual deficit of 11.1 million mt, falling by 23 percent year on year. In the given period, only Brazil registered a surplus of 3.3 million mt, while the largest steel trade deficit was recorded in Mexico (4.7 million mt), followed by Colombia (2.3 million mt), Chile (1.5 million mt) and Peru (1.5 million mt).
On the other hand, according to advance information, Latin American crude steel production amounted to five million mt in January this year, rising by eight percent month on month and up by 12 percent compared to January 2016.
Meanwhile, in 2016 finished steel production in Latin America and the Caribbean amounted to 50.6 million mt, down five percent year on year.