Author: Paul Ploumis17 Oct 2014 Last updated at 02:57:26 GMT
SAO PAULO (Scrap Monster): The latest statistics released by the Latin American Steel Association (ALACERO) indicates that the laminated steel imports from China grew significantly during the initial eight months of the current year.
The laminated steel imports by Latin America from China totaled 5.4 million tons during the period from January to August this year, 54% higher when compared with the imports during the corresponding eight-month period last year. Flat steel imports by Latin America totaled 3.7 million tonnes, making up 67% of the total imports from China.The region’s laminated steel imports from China had totaled 3.51 million tons during the corresponding eight-month period last year.
Among Latin American countries, Brazil remained the largest importer of Chinese laminated steel. The imports by Brazil accounted for 25% of all imports. In second place was Chile with import share of 15%, closely followed by Central America with 14% share of all imports.
According to ALACERO report, the countries which reported highest increase in laminated steel imports from China during the eight-month period were Paraguay (+182%), Mexico (+144%), Argentina (+114%) and Colombia (+101%).
The Chinese imports accounted for nearly 12% of the total consumption of laminated steel by the Latin American region during the eight-month period. The substantial rise in imports from the Asian country has harmed the domestic producers in the region, ALACERO noted.