Argentina’s crude steel output down 2.1% in May

According to the data released by Argentina's chamber of steel, in May this year Argentina's crude steel output amounted to 448,700 metric tons, rising 4.6 percent as compared to the previous month and down 2.1 percent year on year. In the first five months of this year, Argentina's crude steel production totaled 2 million metric tons, decreasing 12.2 percent year on year.
 
On the other hand, in May Argentina's total hot rolled steel product output amounted to 449,900 metric tons, decreasing 1.7 percent month on month and up 4.4 percent compared to May 2012. The country's cold rolled flat steel product output in May this year amounted to 132,900 metric tons, rising 0.2 percent from the April level and up 5.4 percent as compared to May last year.
 
The association highlighted that Latin America has consolidated its position as a destination of Chinese steel exports, in line with Latin American Steel Association Alacero's data. Accordingly, Latin America imported 1.41 million mt of steel from China in January-April this year, representing an increase of 20 percent over the same period in 2012. Argentina's chamber of steel noted that these exports, often in conditions of unfair trade, threaten the region's industries that employ local labor.