Latin America’s finished steel consumption remains flat in 2013

Alacero, the Latin American steel association, has reported that apparent finished steel use in Latin America and the Caribbean totaled 66.5 million mt in 2013, in line with the 2012 level. Finished steel production in the region amounted to 56.3 million mt in 2013.
 
By the end of 2013, regional finished steel trade registered an annual deficit of 11.2 million mt, lower than the 12.3 million mt in the previous year. During 2013, all Latin American countries, except Argentina and the Dominican Republic, presented trade deficits, led by Mexico with an imbalance of 2.9 million mt. Other countries that showed significant deficits were Colombia (1.9 million mt), Peru (1.4 million mt) and Chile (1.4 million mt).
 
In January 2014, regional finished steel production totaled 4.5 million mt, similar to the January 2013 level. Brazil maintained the largest share, with 2 million mt (47 percent share of regional production). It was followed by Mexico with 1.3 million mt, equal to a 30 percent share.
 
Latin American crude steel production amounted to 5.2 million mt during January of the current year, declining one percent year on year. Brazil was the largest producer in the region, with 2.7 million mt, even though its production decreased by one percent compared to the same month of the previous year.