Latin American crude steel production fell by 10pc to 4.6mn mt in November compared with the same month in 2018, due to lower demand from Mexico, Brazil, and Argentina.
The Latin American Steel Association’s (Alacero) latest data noted that steel production dropped by 8pc to 55.7mn mt between January and November 2019, compared to the same 11-month period of 2018.
Mexico accounted for the largest share of the decline, representing 58pc of the total fall. The negative regional balance is represented by Brazil at 75pc and and Argentina at 36pc. Both countries experienced decreased in their annual and monthly production in 2019.
Rolled steel production also decreased by 10pc in November 2019 to 3.9mn mt.
Between January and November 2019, rolled steel production decreased by 8pc to 46.4mn mt, compared to the same month in 2018.
Rolled steel consumption between January and October 2019 dropped by 5pc to 54mn mt, compared to the same 10-month period in 2018.
Between January and October 2019, Mexico consumed 1.6mn mt fewer rolled steel products than the it did during the same period in 2018, followed by a 763,000mt decline in Argentina, and a 460,000mt decrease in Brazil. Chile also consumed 222,000mt fewer rolled steel products during the same 10-month period in 2019 compared to the same prior-year period.
In the first 11 months of 2019, China’s rolled steel imports declined by 27pc in Latin America, Alacero said without disclosing the volume.
In November 2019, Latin American imports reached 410,000mt, while in January 2020, imports total 559,000mt.