Alacero, the Latin American steel association, has reported that Latin America received 10.6 percent of global exports of finished steel from China in the third quarter of 2013. The volume of finished steel exports to the region from China reached an all-time high quarterly figure in the third quarter, amounting to 1.5 million metric tons, which is 20,000 mt more than in the previous quarter and 26.3 percent more than in the same quarter of 2012.
During the first nine months of 2013, the average quarterly volume of Chinese long product exports to Latin America rose to 308,000 metric tons, from 166,000 metric tons recorded in the same period of 2012. Also, in January-September this year flat steel exports from China to the region reached an all-time high of 1 million tons. Wire rod and bars, which are extensively manufactured in Latin America, stand out among the long product categories imported from China.
In the third quarter of the current year, the most important import markets in the region for finished steel from China were Brazil with 435,000 mt (up 27 percent year on year), Chile with 204,000 mt (down 22 percent year on year) and Peru with 181,000 mt (up 11 percent year on year). In addition, Ecuador, Cuba and Paraguay were new destinations for finished steel trade with China.