Apparent consumption of steel end products in Peru in 2016 should keep the same levels seen in 2015—around 3 million mt—according to a media report citing data from Scotiabank.
Scotiabank said a lower level of execution of civil construction works by the Peruvian government should limit steel demand, analyst Carlos Asmat said.
Scotiabank said it expects an increase in Peruvian steel demand by 2017, which should surpass 3 million mt.
Scotiabank attributed the expected increase in steel demand in 2017 to a better dynamism in the country’s infrastructure projects that began in 2015, such as the Lima subway line 2, whose constructions works are expected to take place in 2016, the Cusco airport, as well as the San Martín port in Pisco, among other projects.
A recovery in the country’s real estate sector is also expected for 2017.
Peruvian major steelmakers are Gerdau-owned Siderperu and Aceros Arequipa.