Latin American Steel Association, Alacero, has announced the region’s steel production data and consumption and trade data for 2024.
Accordingly, in 2024, the region’s total crude steel production reached 56.2 million mt, representing decrease of 3.6 percent year on year, the third consecutive decline (-2.9 percent in 2022 and -7.4 in 2023). In 2024, rolled steel production totaled 51.9 million mt decreasing by 2.5 percent year on year, maintaining the downward trend of recent years (-2.4 percent in 2022 and -2.7 percent in 2023). Latin American long production decreased by 5 percent while seamless pipe production dropped 8.8 percent. Flat production increased by 0.7 percent.
In 2024, total rolled steel consumption in the region amounted to 67.4 million mt, decreasing by 1.0 percent year on year. This included decreases of more than 20 percent in Argentina, Bolivia, and Panama, which were partially offset by increases in Brazil, Colombia, Paraguay, Uruguay, and Venezuela.
Looking at Latin America’s steel trade, the trade balance registered a deficit of 19.5 million mt between January and November of 2024, which represents an increase of 4.3 percent from 2023. This deficit was caused by a 10.5 percent drop in exports, while imports remained stable, showing a growing share of purchases from China.