Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Crude steel production in South America fell by 19.9pc to 17.4mn mt, from 21.8mn mt produced in H1 2019, according to the World Steel Association (worldsteel) data.


Brazil’s crude steel output fell by 17.8pc to 14.2mn mt in H1 2020, from 17.3mn mt produced in the first six months last year, while Mexico, the second-largest steel producer in the region, also witnessed a fall of 15.8pc in its crude steel production to 8.1mn mt from 9.6mn mt during the same period.


LatAm crude steel output plummets in June

Most Latin American countries reported falls of 21-45pc in crude steel production in June compared with the same month last year. However, output of the material fell by 63.1pc to 40,000mt during the month, in Peru, from 109,000mt in June 2019, while Ecuador’s steel production reduced by 59.8pc to 20,000mt from 50,000mt during the same period.


In terms of volumes, larger steel-producing countries like Brazil, Mexico, Argentina, and Colombia witnessed the steepest falls in crude steel production, worldsteel noted. Brazil’s crude steel output decreased by 27.1pc to 2.1mn mt in June, from 2.8mn mt in the same month last year, and fell by 21.4pc in Mexico to 1.1mn mt from 1.4mn mt during the same period.


Argentina’s crude steel output dropped by 41.4pc to 241,000mt in June, from 412,000mt produced in the same month last year, while Colombia’s steel production declined by 45.9pc to 65,000mt, from 120,000mt produced in June 2019. Chile’s crude steel production decreased by 5.9pc to 90,000mt from 96,000mt during the same period.

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