Latin American crude steel-producing countries reduced their crude steel output in May due to the effects of COVID-19.
Brazil’s crude steel output dropped by 22.6pc on an annual basis to 2.1mn mt last month, according to the latest figures released by the World Steel Association (worldsteel). Mexico recorded also a crude steel output decline, as it fell by 13.2pc to 1.4mn mt over the same period the same period.
Argentina’s crude steel production decreased by 52.2pc to 194,000mt in May 2020 from the same month a year ago, while Colombian steel output declined by 31.5pc to 85,000mt, and Peruvian crude steel production fell by 35.2pc to 70,000mt. Ecuador’s steel production fell by 21.3pc to 40,000mt during the same period.
Chile was the only Latin American country to record an increase, as its crude steel output rose by 7.9pc to 90,000mt, according to worldsteel.