BRAZIL March 31 2017 2:23 PM

SANTIAGO (Scrap Register): Latin American Crude Steel production advanced by 13% year-on-year during January this year, following the upward trend of the end of the year, according to the latest figures released by the Latin American Iron and Steel Institute (ALACERO).

Latin American finished steel production gained 4 percent year-on-year in January, while its steel consumption (finished + derivatives) slightly up by 1 percent.

Latin America and the Caribbean produced 5.2 million tons (Mt) of crude steel in January 2017, 13% higher than the volume recorded in Jan 2016 (4.6 Mt). Brazil is the main producer in the region with 54% of the regional production (2.8 Mt), increasing 13% vs Jan 2016. 

In the same period, Latin America produced 4.3 Mt of finished steel, 4% higher than Jan 2016. Brazil was the main producer (1.8 Mt), accounting for 41% of the Latin American output. Mexico came second with 1.6 Mt (38% share of regional output).

Meanwhile, regional steel imports represents 36% of Latin-American consumption, 3 points higher than 2016 (33%). The trade balance of the region remains negative, increasing in 2% it deficit vs January 2016.