Chilean steel institute ICHA reported that the apparent consumption of steel products during the first half of 2023 reached 1.182 million mt, an 8.1 decline on yearly basis and the lower figure over the last five years.
Under the same comparative basis, the consumption of long products declined by 17.3 percent to 506,000 mt, while the consumption of flat products declined by 0.7 percent to 676,000 mt, the later including the consumption of heavy plates, which increased by 21.1 percent to 129,000 mt.
According to Juan Carlos Gutierrez, executive director of ICHA, the reduced steel consumption reflects a decline of activities in the mining, civil construction and industrial sectors, in his view derived from the recessive economic scenario currently faced by the country.
Gutierrez mentioned that for the total of 2023, the apparent consumption of steel products is expected to decline from 2022 by 0.8 percent to 2.269 million mt, declining further to 2.258 million mt in 2024, in line with an expected decline of 0.5 percent of the civil construction activity in that year.