Peruvian crude steel production is expected to reach 1.6 million metric tons (mt) by the end of 2014, according to a Lima-based consulting firm.
The volume will be met as a result of public and private investments in the country’s infrastructure, such as the construction of steel bridges and homes,
Peru’s consultancy firm Maximixe said.
Other projects, including the expanding of mines in Toquepala, Bayovar and Colquijirca will also boost the mining sector in the South American country.
Iron production may increase 7.5 percent due to the expanding of steelmaker Shougang in
Peru.
Maximixe forecasts a 3.2 percent increase in iron and steel imports, at $2.4 million.
Exports of these products should reach $244.4 million.