Argentina steel output rises in November

Argentina's crude steel output rose 18.1% year-on-year in November to 424,300t, according to local steel chamber CAA.

However, production was 3.0% lower than the 437,300t in October. Output in the first 11 months of the year increased 10.5% to 4.21Mt.

CAA said in a statement that the steel sector continues to show robust strength, driven by stronger demand from the construction sector. This development likely continues in the wake of public infrastructure projects and expected growth due to increased mortgage lending.

In addition, demand for agricultural machinery continues to show sustained growth, followed by demand from the oil and gas industry, thanks to development of the Vaca Muerta shale gas formation.

Argentina's combined output of pig and sponge iron in November reached 327,200t, up 20.4% year-on-year but down 5.7% month-on-month. January-November production rose 15.1% to 3.07Mt compared to the same period last year.

Hot-rolled flat and long steel production totaled 414,400t last month, up 11.1% year-on-year and 44.7% higher from October. Output in the first 11 months was up 13.7% at 4.18Mt.

Cold-rolled flat steel output totaled 107,100t in November, down 4.9% year-on-year but 17.6% higher sequentially, while January-November production was down 3.9% to 1.2Mt.

Argentina produced 4.13Mt of steel in 2016.