In the first seven months of this year, China’s overall finished steel exports amounted to 65.9 million mt, up nine percent, with 4.1 million metric tons of this volume arriving in Latin America, down 27 percent, both on year-on-year basis, according to Alacero, the Latin American steel association. Accordingly, in the given period Latin America’s share in China’s finished steel exports decreased from 9.3 percent to 6.2 percent year on year. In July alone, Latin America's finished steel imports from China increased by 16.4 percent month on month to 739,000 mt, up 10.8 percent compared to July last year. July this year was the first month in 2016 in which the volume of exports of Chinese steel entering the region was higher compared to the same month last year.
In the January-July period of this year, China's main finished steel export destinations in Latin America were Central America which received 1.03 million mt, equal to a 25 percent share of China's total finished steel exports to Latin America, Chile with 682,000 mt equal to a 17 percent share, and Peru with 548,000 mt amounting to a 13 percent share.
Meanwhile, in the same period, Latin America received 1.9 million mt of flat steel and 1.6 million mt of long steel from China.