06 Apr 2015 Last updated at 01:24:19 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 41% during initial two months of the year upon comparison with the previous year.
The Chinese exports totaled 16.4 million tons during Jan-Feb ‘15. The Latin American region imported 1.7 million tonnes out of this, thus accounting for 10.37% share of the total Chinese exports during the two-month period. South Korea accounted for major share in imports of Chinese rolled steel. The South Korean imports totaled 2.1 million tons, accounting for 13% of the total Chinese exports. Latin America ended the year, second to South Korea. In third place was Vietnam which imported 1.4 million tons, accounting for 9% of the total Chinese exports.
The total Chinese rolled steel imports by Latin America during February declined sharply from the previous month. The imports totaled 625,000 tons, down by 42% when compared with the previous month. The imports by the region had totaled 1.1 million tons in Jan ‘15. The imports recorded an increase of 6% when matched with 588,000 tons imported during February last year.
Among Latin American countries, Brazil remained the largest importer of Chinese steel products. Brazil’s imports of Chinese steel totaled 271,000 tons during the two-month period, accounting for 16% of the total imports by Latin American region. In second place was Mexico with import share of 15%. The country’s imports of steel products from China totaled 248,000 tons. Central America accounted for 14% import share with 243,000 tons.
According to ALACERO report, the countries which reported highest increase in rolled steel imports from China during Jan-Feb ’15 were Argentina (+792%), Cuba (+269%), Mexico (+163%) and Venezuela (+146%).