Alacero, Latin America’s steel association, has urged local governments to invest in infrastructure, according to media reports following the association’s annual conference this week in Buenos Aires, Argentina.
Maximo Vedoya, Alacero’s president and CEO at Ternium, said during his remarks at the conference that increased infrastructure investments will drive growth for small and medium-sized companies.
Vedoya also blamed China for some of Latin America’s steel industry woes. He said for each $1 million spent in imports to aid the local automotive and metal mechanic sectors, Latin America loses 60 jobs.
Vedoya said 90 percent of Latin America’s steel exports are made up of primary products, while steel consumption per capita still reach weak levels, as compared to the US and China.