Latin America's finished steel consumption down 2% in January

Alacero, the Latin American steel association, has reported that in January this year apparent finished steel use in Latin America and the Caribbean totaled 5.5 million mt, down two percent year on year.
 
On the other hand in January this year, regional finished steel trade registered an annual deficit of 900,262 mt, lower than the 1.1 million mt in January 2013. In January of the current year, all Latin American countries, except Argentina, Brazil and the Dominican Republic, presented trade deficits, led by Mexico with an imbalance of 238,353 mt. Other countries that showed significant deficits were Colombia (231,643 mt), Chile (156,042 mt) and Peru (117,591 mt).
 
In February this year, finished steel production in Latin America and the Caribbean decreased by one percent year on year, amounting to 4.3 million mt, while in the first two months of this year it totaled 8.8 million mt, up one percent year on year. In the January-February period of this year, Brazil held the largest share in regional finished steel production, with 4.1 million mt or 46 percent of the total. It was followed by Mexico with 2.7 million mt, up three percent year on year, equal to a 30 percent share.
 
Latin American crude steel production amounted to 5 million mt in February this year, unchanged from February 2013. Meanwhile in the first two months of the current year, the region's crude steel output totaled 10.3 million mt, stable year on year. In the given period, Brazil was the largest producer in the region with 5.3 million mt, ahead of Mexico with 3 million mt.