According to data released by the Latin American Steel Association (Alacero), Latin America’s crude steel production in January this year decreased by one percent year on year at 5.28 million mt. Brazil’s share in the region’s total crude steel production in the month in question rose by two percent year on year to 56 percent.
The region’s production of finished steel in January was 4.2 million mt, down five percent year on year. The main finished steel producers were Brazil, with 1.8 million mt (43 percent of the total) and Mexico with 1.6 million mt (37 percent of the total).
Meanwhile, in January, Latin America’s finished steel consumption decreased by four percent year on year to 5.4 million mt, reflecting the infrastructure investment deficit in the region, the tightening of global financial conditions and the fall in commodity prices as a result of trade tensions between the US and China.
In January 2019, Latin America imported 1.9 million mt of finished steel, down four percent as compared to January of the previous year, while finished steel exports from the region decreased by ten percent year on year to 746,000 mt. As a result, the region recorded a trade deficit of 1.2 million mt of finished steel in the given month.
According to early information from February 2019, Latin America’s crude steel production reached five million mt, five percent lower than in January, and four percent higher than in February 2018. Cumulatively, in the January-February of the current year, production reached 10.3 million mt, two percent less than in the January-February period last year. Meanwhile, finished steel production reached 3.9 million mt, seven percent lower than in January 2019, and also seven percent down from February 2018. Cumulatively, in the January-February period this year, finished steel production reached 8.1 million mt, seven percent less year on year.