Argentina’s crude steel production fell by 21.6pc to 357,500 tonnes in November, compared with the prior year period.
Production fell due to lower demand for steel products across all industries including construction, automotive, machinery, and energy sectors, the Argentine Chamber of Steel announced in a statement on Dec 27.
The low activity in the construction sector will continue as the new government implements measure to boost this sector, the chamber indicated. Iron ore production dropped by 21.5pc in November to 268,000 tonnes in comparison with the same month last year while hot-rolled coil production fell by 12.2pc to 335,500 tonnes. Cold-rolled coil production grew by 20.5pc to 99,800 tonnes in comparison with November last year.
Alberto Fernández assumed the presidency of Argentina on December 10, after winning an election dominated by economic issues.