The global steel market is expected to grow an average of 2.5 percent annually, reaching $1.12 trillion by 2028, according to Latin American steel association Alacero.
The association stated that the region’s steel market should focus on sustainability, the use of material produced in nearby regions, competitiveness and job creation in 2023 to recover from unfavorable market conditions.
“Latin American companies do not need protectionism, but fair trade. When the world competes on equal terms, renouncing practices such as dumping and government subsidies, Latin America stands out for its capacity for innovation,” Alejandro Wagner, executive director of Alacero, said.