Latin America’s crude steel production in January rose 2.2 percent year on year and eight percent month on month to 5.4 million mt, according to Alacero, the region’s steel association.
Brazil’s share in the region’s total crude steel production in the given month rose one percent year on year to reach 34.7 million mt, accounting for 53 percent of the total.
As regards the outlook for 2019, Alacero said the biggest contribution to the steel industry of the region will come from the construction and infrastructure sectors with their capacity and growth potentials. Furthermore, according to Alacero, the latest data for the regional steel industry prove that, thanks to the arrival of new governments in Brazil and Mexico, investment in the steel sector is no longer hindered.
Alacero also stated that in 2019 the Latin American steel industry will grow with the support of domestic consumption and exports. The apparent consumption of steel is anticipated to gain momentum based on the greater tendency to invest in the regional markets and in greater confidence in the construction and industrial sectors, Alacero said.