The Latin American steel sector maintained its downward trend in February, while import pressure in the region remained high. In February, purchases from foreign markets accounted for 41 percent of regional apparent consumption. In the same period, crude steel production totaled 4.42 million mt, down 3.3 percent year on year, while finished steel production rose by 3.7 percent year on year to 4.07 million mt.
In the first two months of the year, the region’s crude steel production was recorded at 9.07 million mt, down 3 percent year on year, while steel product output declined by 1.3 percent year on year to 8.20 million mt. By product, in February, long steel production increased by 2.3 percent year on year to 2.11 million mt and flat steel production rose by 7 percent to 1.89 million mt, while seamless pipe production decreased by 26.4 percent to 71,000 mt.
By country, Brazil’s crude steel production in February fell by 5.7 percent year on year to 2.52 million mt, while Mexico’s crude steel production rose by 3.3 percent year on year to 1.23 million mt. Crude steel production in Argentina and Colombia declined by 14 percent and 1.9 percent, respectively. In terms of steel product output, Mexico and Colombia posted increases, while Brazil and Argentina recorded decreases.
Apparent consumption of steel products in the region rose by 4.2 percent year on year to 6.01 million mt in February. In the January-February period, apparent consumption increased by 0.4 percent year on year to 12.18 million mt. In February, apparent consumption increased in Brazil, Mexico and Colombia, while it fell by 6.4 percent year on year to 196,000 mt in Argentina.
Latin America’s steel imports were recorded at 2.46 million mt in February, up 7.8 percent year on year. The region’s imports in the January-February period rose by 3.1 percent year on year to 5.02 million mt. In the first two months, imports increased in Brazil and Colombia, while decreases were recorded in Mexico and Argentina.
The region’s exports amounted to 524,000 mt in February, down 18.1 percent year on year, while they totaled 1.09 million mt in the January-February period, declining by 10.9 percent year on year. Although Brazil’s exports decreased in February, they increased by 13.8 percent year on year in the first two months. Colombia’s exports rose by 5.7 percent year on year in February, while significant decreases were observed in Argentina and Mexico.
As a result of rising imports and weakening exports, the region’s trade balance posted a deficit of 1.94 million mt in February. In the January-February period, the total trade deficit reached 3.93 million mt.
Looking at steel-consuming sectors, the construction sector contracted by 1.3 percent year on year in February, while the decrease in the January-February period remained at 0.1 percent. On the industrial side, declines were seen in the machinery and household appliance sectors. Meanwhile, the automotive sector recorded an 18.6 percent year-on-year increase in March 2026, supported by the strong recovery in Brazil, and completed the first two months of the year with a 0.4 percent year-on-year increase.
