Alacero, the Latin American steel association, has reported that in the first quarter of this year apparent finished steel use in Latin America and the Caribbean totaled 16.6 million mt, up seven percent compared with the same quarter of 2016. The highest increases were registered in Mexico, up 603,000 mt (+10%), in Costa Rica, up 238,000 mt (+115%) and Brazil, rising by 218,000 mt (+5.0%), while finished steel consumption decreased by 110,000 mt (-10%) in Argentina, was down 127,000 mt (-75%) in Bolivia, dropped by 11,000 mt (-2.0%) in Chile, diminished by 146,000 mt (-35%) in Ecuador and narrowed by 40,000 mt (-21%) in Venezuela, all on year-on-year basis.
In the first quarter of this year, regional finished steel trade registered an annual deficit of 3.3 million mt, rising by 19 percent year on year. In the given period, Brazil and Argentina registered surpluses of 642,000 mt and 29,000 mt, repectively, while the largest steel trade deficit was recorded in Mexico (1.4 million mt), followed by Colombia (638,000 mt), Chile (428,000 mt) and Peru (423,000 mt).
On the other hand, according to advance information, Latin American crude steel production amounted to 5.2 million mt in April this year, remaining stable month on month and up by 17 percent compared to April 2016.
Meanwhile, in the first quarter finished steel production in Latin America and the Caribbean amounted to 12.8 million mt, up three percent year on year.