According to government figures, Argentina's crude steel production in June totaled 311,400 mt or 15.8 percent higher than in the previous month, though it was 37.7 lower than in June of last year.
Accumulated production of crude steel in the first six months of the year, according to Argentina's state-run Center for Industrial Steel (CIS), totaled 1,658,800 mt, which is 42 percent lower than production during the same period of time last year.
CIS' report, released Wednesday, also shows that in June, Argentina's hot rolled coil production fell 40.2 percent to 282,100 mt when compared to production during the same month last year, yet it rose 8.8 percent from the previous month. Cold rolled coil production in June increased by the most significant amount over May, totaling 116,900 mt, which is 45.5 percent higher than May's production and 16.2 percent lower than production during June 2008.
CIS explains June's production hike as a result of the completion of the inventory de-stocking process, which started during the last quarter of 2008.
The report also said that Argentina's iron ore production in June reached 195,500 mt, which is 3.1 percent lower than in May and 43.7 percent lower compared to the same month of last year. Accumulated production of iron ore in the first half of 2009 reached 1,199,600 mt or 48.6 percent less than production during the same period of time last year.