Latin American Steel Association (Alacero) reported that raw steel production in Latin America fell by 2.4pc to 4.8mn mt in August over the prior year period, while consumption begun a slow recovery.
Seamless pipes production declined 62.9pc in August compared to the same month last year, Alacero said in a statement neither disclosing volumes nor data from August of 2019.Long and flat steel production, on the other hand, increased by 9.5pc and 15.9pc in the same period under comparison.
The agency also indicated that Latin American steel consumption fell by 19.7pc in July compared with the prior year. However, steel consumption recovered by 2.9pc over June, thanks to the higher demand of Argentina, Colombia, Mexico, and Brazil. Meanwhile, in January-July 2020, steel consumption has seen a 15.4pc shortfall compared to the same period of 2019.