Author: Paul Ploumis05 Feb 2015 Last updated at 01:57:57 GMT
SAO PAULO (Scrap Monster): According to latest statistics released by the Latin American Steel Association (ALACERO), the imports of Chinese rolled steel by the Latin American region surged nearly 56% in 2014 when matched with the previous year. The Chinese exports totaled 84.8 million tons during the year. The Latin American region imported 8.3 million tonnes out of this, thus accounting for 9.8% share of the total Chinese exports during the year.
The total Chinese rolled steel exports during the year rose sharply by 57% from 2013. South Korea accounted for major share in imports of Chinese rolled steel. The South Korean imports totaled 12.6 million tons, accounting for 15% of the total Chinese exports. Latin America ended the year, second to South Korea. In third place was Vietnam which imported 6.5 million tonnes, accounting for 8% of the total Chinese exports.
The imports by Latin America during the month of December 2014 alone totaled 867,365 tons, rising sharply by 18.8% from 729,865 tons during the previous month. The imports surged higher by 56% when compared with a year ago. The imports by the region had totaled 556,319 tons in Dec ’13.
Among Latin American countries, Brazil remained the largest importer of Chinese steel products. Brazil’s imports of Chinese steel totaled 2 million tons during the year, accounting for 24% of the total imports by Latin American region. In second place was Chile with import share of 15%. The country’s imports of steel products from China totaled 1.2 million tons. Central America accounted for 14% import share with 1.1 million tons.
According to ALACERO report, the countries which reported highest increase in rolled steel imports from China during the entire year 2014 were Paraguay (+154%), Mexico (+142%), Colombia (+113%) and Argentina (+79%).