The Colombian committee of steel producers informed in a statement that the country`s steel production in March has increased by 25 percent from February, emphasizing that the supply of steel products is guaranteed for the year, with stability in the supply side.
The committee is composed by Acerias Paz del Rio, Gerdau Diaco, Reyna, Sidoc and Ternium, representing 100 percent of the Colombian steel production.
The statement was published due to doubts arising on the risk of a steel supply shortage, reflecting the worldwide instability derived from the invasion of Ukraine by Russia and by the 6.8 percent decline of global crude steel production during the first quarter of 2022, in relation to the same period of 2021.
The statement also commented rumors that steel prices should increase by 40 percent in the short term, qualifying the information as speculative, generating misinformation and negatively affecting the different players in the production chain.
The committee emphasized that the Colombian steel industry is able to guarantee the current programs of development of infrastructure and housing, without risks associated to the international volatility.