According to a report by Latin American steel association Alacero, crude steel production in Latin America totaled 67.3 million metric tons during 2012, falling one percent compared to 2011. In December alone, 6 million metric tons of crude steel were produced in Latin America, which was 14 percent higher compared to December 2011 and up 5.3 percent over November last year.
During the month in question, Brazil was the Latin American country with the highest crude steel production with 3 million mt, rising 12 percent compared to December 2011. Meanwhile, Argentina saw a drop of nine percent in its crude steel production year on year.
Latin American finished steel production in 2012 amounted to 57.6 million mt. In the whole of 2012, Brazil was responsible for 46 percent of the total volume with 26.6 million mt. Mexico was the second largest finished steel producer of the region with 16.5 million mt, representing 29 percent of the region's output.
In December 2012, finished steel production in Latin America was 5.2 million mt, representing a 23 percent increase over the same month of the previous year. Brazil and Mexico stimulated the year-on-year growth with 2.3 million mt and 1.6 million mt respectively.
The region's finished steel trade deficit in the January-November period of last year was 11 million mt, greater than the 7.8 million mt deficit in the first 11 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 4 million mt. Meanwhile, Colombia with 1.6 million mt, Chile with 1.4 million mt and Peru with 1.3 million mt were also among the countries which recorded significant finished steel trade deficits.
Apparent finished steel use in Latin America reached 60.5 million mt in the first 11 months of 2012, up five percent compared to the same period in the previous year, against a production level of 52.4 million mt. Chile, Peru and Mexico led overall consumption growth, with year-on-year increases of 23 percent for Chile, 16 percent for Peru and 15 percent for Mexico.
In November 2012, steel consumption in Latin America amounted to 5.5 million mt, stable compared to October 2012 and up eight percent compared to consumption in the same month of 2011.