Alacero, the Latin American steel association, has reported that in the January-September period of this year apparent finished steel use in Latin America and the Caribbean totaled 52.5 million mt, up two percent as compared with the same period of 2013. The highest increases were registered in Mexico, up 2.1 million mt (+14%), in Colombia, up 448,000 mt (+17%), in Peru, up 489,000 mt (+23%) and in Argentina, up 130,000 mt (+3%), while finished steel consumption in Venezuela, Brazil and Ecuador decreased by 1 million mt (-43%), 1.07 million mt (-5%) and 304,000 mt (-20%) respectively, all on year-on-year basis.
In the first nine months of the current year, regional finished steel trade registered an annual deficit of 11.4 million mt, increasing by 20 percent compared to January-September 2013. In the given period, all Latin American countries presented steel trade deficits, led by Mexico with an imbalance of 3.6 million mt. Other countries that showed significant deficits were Colombia (1.8 million mt), Peru (1.5 million mt) and Chile (1.1 million mt).
On the other hand, Latin American crude steel production amounted to 55 million mt in the January-October period of this year, in line with the same period of 2013. In October alone, crude steel production in the region amounted to 5.9 million mt, up two percent year on year.
Meanwhile, in the first 10 months of this year finished steel production in Latin America and the Caribbean decreased by one percent year on year, amounting to 46.9 million mt.