By Carolina Curiel (ScrapMonster Author)
January 06, 2016 12:43:12 AM
SAO PAULO (Scrap Monster): The finished steel output by Latin America and the Caribbean dropped nearly 4% during the initial ten months of 2015. This is when compared with the output during Jan-Oct ’14.
According to latest statistics released by the Latin American Steel Association (ALACERO), the regional finished steel output totaled 44.9 Mt during January to October in 2015. This is down by nearly 4% when matched with the corresponding period in 2014. The finished steel production during Jan-Oct ’14 had totaled 46.8 Mt.
The key finished steel producer in the region was Brazil. The country accounted for 43% of the total regional production. The finished steel output by Brazil during Jan-Oct ’15 totaled 19.3 Mt. The second biggest producer was Mexico with 14.7 million mt. The Mexican output accounted for 33% of the regional total.
The Latin American crude steel output between January and October in 2015 totaled 53.7 Mt. Out of this, Brazil’s crude steel production totaled 28.2 Mt, accounting for 53% of the total output by the region. The Brazilian crude steel output dropped marginally by 1.2% over the previous year.
Meantime, finished steel consumption by the region witnessed 3% decline during Jan-Oct ’15 to 57.9 Mt. Mexico’s finished steel consumption recorded an increase of 9% over the previous year. The other countries to report rise in consumption were Chile (up 9%) and Argentina (up 3%). Also, rolled steel consumption by Brazil, Columbia and Peru reported significant declines.
The finished steel imports by the region during the ten-month period totaled 20.3Mt, marginally higher by 1% over the previous year. Also, imports accounted for 35% of regional consumption. On the other hand, Latin American finished steel exports surged higher by 8% during Jan-Oct ’15 to 7.5Mt.