Latin American crude steel production fell by 8pc in Q1 this year compared to the same period in 2019, due to lower output in Mexico, Brazil, and Argentina according to the Latin American Steel Association (Alacero).
Rolled steel production also fell by 3pc in Q1 2020 compared the same period in the prior year, Alacero noted in a statement on Wednesday, without disclosing the volume.
Steel consumption in the region fell by 13.8pc to 55.4mn mt in Q1 2020 compared the same period in the prior year.
The Latin American steel industry has been registering negative effects due to several companies had to reduce or stop their production while other industries adapted to a new reality caused by the COVID-19 pandemic, Alacero pointed out. Steel exports fell by 15pc between January and February this year, Alacero said without disclosing the volume.