In September this year, Latin America’s steel sector extended the downward trend observed throughout 2025. Crude steel and rolled steel production both contracted again, while imports strengthened notably, reaching a historic level within the regional market.
Crude steel output totaled 4.5 million, marking a 5.9 percent year-on-year decline. Rolled steel production also recorded losses, falling 7.9 percent in September and 3.7 percent in the cumulative January–September period.
Apparent consumption totaled 6.0 million mt in September, down 1.8 percent year on year. Yet regional demand still showed a slight improvement over the nine-month period, with consumption increasing 1.4 percent year on year. Five out of six large economies registered cumulative growth, while Mexico posted a significant decline of 9.9 percent.
Imports rose sharply, increasing by 11.6 percent, with Brazil and Argentina leading the expansion, while Mexico again moved in the opposite direction with a 13.1 percent fall. Imports now account for 40.9 percent of apparent consumption, the highest share recorded since 2011.
Exports, however, remained weak. In the January-September period, the region registered a 8.8 percent drop in foreign sales. The overall trade balance showed a 1.9 million mt deficit in September.