Argentina´s steel industry grew by 65.4pc in January-July compared to the same period last year according to the National Statistics Institute’s (Indec’s) Industrial Manufactures Production report. Indec attributed this increase to the rise in construction activity in the country.
The institute registered production increases of 85.4pc for automotive vehicles, 58.7pc in metal smelting, 50.2pc for base metals industries, 44.9pc for metal products, machinery, and equipment, and 34pc for metal products.
The index rose 13pc in July compared to the same month in 2020. The automotive vehicles category increased by 47pc, metal smelting by 45.6pc, steel industry by 40.5pc, and base metals by 39.8pc compared to July 2020. Metal products grew by 17.8pc in the same period.