In the first 11 months of last year, Chinese finished steel exports amounted to 75.5 million mt, up 53 percent, and of this volume 7.4 million metric tons arrived in Latin America, up 56 percent, both on year-on-year basis, according to Alacero, the Latin American steel association. Thus, Latin America expanded its share from 9.6 percent to 9.9 percent in China's finished steel exports and ranked as the second biggest destination for Chinese finished steel exports after South Korea. In November alone, Latin America's finished imports from China increased by 83 percent year on year to 729,865 mt and were up 8.6 percent compared to October.
In the first 11 months, China's main finished steel export destinations in Latin America were Brazil with 1.8 million mt, up 45 percent and with a 24 percent share of China's total finished steel exports to Latin America, Chile with 1.1 million mt, up 52 percent and with a 15 percent share, and Central America with 1.04 million mt, up 69 percent and with a 14 percent share, all on year-on-year basis.
Meanwhile, in the same period, Latin America received 4.9 million mt of flat steel and 2 million mt of long steel from China.