Latin America's finished steel usage up one percent in January-April

Alacero, the Latin American steel association, has reported that in the first four months of this year apparent finished steel use in Latin America and the Caribbean totaled 22.25 million mt, up one percent year on year. The highest increases were registered in Colombia, up 239,000 mt (+21%), in Mexico, up 176,000 mt (+3%) and in Argentina, up 112,000 mt (+7%), while finished steel consumption in Venezuela, Ecuador and Chile decreased by 271,000 mt (-30%), 117,000 mt (-17%) and 84,000 mt (-9%) respectively and all on year-on-year basis. In April alone, apparent finished steel use in Latin America and the Caribbean decreased by three percent year on year to 5.69 million mt.
 
Latin American crude steel production amounted to 27 million mt in the first five months of this year, in line with the same period of 2013. In May alone, crude steel production in the region amounted to 5.5 million mt, down five percent year on year.
 
Meanwhile, in the first five months of this year finished steel production in Latin America and the Caribbean decreased by one percent year on year, amounting to 23 million mt. In May alone, finished steel production in the region amounted to 4.5 million mt, down seven percent year on year.
 
On the other hand in the first four months of the current year, regional finished steel trade registered an annual deficit of 4.1 million mt, increasing by seven percent compared to January-April 2013. In the given period, all Latin American countries presented steel trade deficits, led by Mexico with an imbalance of 1 million mt. Other countries that showed significant deficits were Colombia (772,380 mt), Chile (506,474 mt), Peru (502,416 mt), Argentina (100,800 mt) and Brazil (78,375 mt).