According to a report by Latin American steel association Alacero,
crude steel production in Latin America totaled 55.6 million metric tons during the first 10 months of 2012, falling three percent compared to the same period of last year. In October alone, 6 million metric tons were produced, which was six percent higher compared to October 2011 and up 11.7 percent over September this year.
During the month in question,
Brazil was the Latin American country with the highest
crude steel production with 3.2 million mt, rising eight percent compared to October 2011.
Brazil was followed by Mexico with 1.6 million mt of
crude steel, up six percent, while Argentina saw a drop of 18 percent in its
crude steel production, both year on year.
Meanwhile, Latin American finished steel
production in January-October amounted to 47.5 million mt. In the January-October period,
Brazil was responsible for 47 percent of the volume with 22.1 million mt. Mexico was the second largest finished steel producer of the region with 13.5 million mt, representing 28 percent of the region's output. In October alone, finished steel
production in Latin America was 4.9 million mt, representing a three percent increase over the same month last year and stable compared to September this year.
Brazil and Mexico stimulated the year-on-year growth with 2.2 million mt and 1.4 million mt respectively.
The region's finished steel trade deficit in the January-September period of the current year was 9.1 million mt, greater than the 6.4 million mt deficit in the first nine months of 2011. According to Alacero, all Latin American and Caribbean countries, except Argentina and the Dominican Republic, showed a finished steel trade deficit. Mexico recorded the largest deficit of 3.3 million mt. Meanwhile, Colombia with 1.3 million mt and Peru with 1.2 million mt were also among the countries which recorded significant finished steel trade deficits.
Apparent finished steel use in Latin America reached 49.5 million mt in the first nine months of 2012, up five percent compared to the same period a year ago, against a
production level of 42.7 million mt. Chile, Mexico and Peru led overall
consumption growth, with increases of 17 percent, 15 percent and 13 percent respectively, year on year.
In September 2012, steel
consumption in Latin America amounted to 5.3 million mt, falling 3.6 percent compared to August this year and down three percent compared to
consumption in the same month of 2011.