The Argentine chamber of the steel industry, Acero Argentino (AA), reported the country’s crude steel production has reached 313,900 mt in July against 274,800 mt in June.
Under a comparative basis, the production of HRC increased by 38.6 percent to 176,600 mt, the production of CRC increased by 15.4 percent to 94,600 mt, and the production of long products increased by 9.4 percent to 116,600 mt.
When compared to July 2023, the numbers show crude steel production declining by 9.2 percent, HRC production declining by 2.0 percent, CRC production declining by 10.6 percent, and long products production declining by 29.7 percent.
According to AA, some signs of reactivation are seen in the sectors linked to the value chain of the metal-mechanic activities with the auto industry benefiting from local sales and exports to Brazil, while civil construction and energy sectors are positively impacting the demand for steel products, and the return of credit lines to individuals is positively impacting sales of domestic appliances.
According to the AA, the civil construction sector of the country is showing an increase of activities estimated at 25.9 percent from June to July while the production of automotive sector increased by 38.7 percent.
Argentina is facing a high level of inflation, although the economic activity is showing incipient signs of recovery.