Colombia’s crude steel production declined by 11.2pc to 108,498mt in July from 122,242mt produced in the same month last year according to the Colombian Steel Committee (Andi) data. Long steel production also fell by 2.8pc to 117,765mt from 121,261mt in the same period.
Colombia’s crude steel production has shown signs of recovery increasing steadily since April 27 when construction and manufacturing industries suspended activities owing to the COVID-19 pandemic. The South American nation produced 33,089mt of steel in April, 65,156mt in May, and 81,846mt in June, according to Andi.
Between January and June this year, Colombia imported 320,253mt of long steel products, down by 34.6pc from 490,150mt during the same prior-year period.
The Colombian steel industry, however, remains concerned about increasing imports, which are hurting domestic steelmakers. The South American country consumes 1.5mn mt of steel products per year, of which, about 1mn mt is produced in the country, while the balance 500,000mt is imported.