LatAm finished steel consumption grows in January-April

Apparent consumption of finished steel in Latin America was 22.4Mt in the first four months of the year, up 7% when compared with the same period of 2016, regional steel association Alacero reported.

The largest increases in steel consumption in the period were recorded in Mexico (up 6% year-on-year, or 526,000t), Colombia (up 7%, or 94,000t) and Brazil (up 1%, or 83,000t).

In contrast, in Argentina, finished steel consumption dropped 11%, or 158,000t. Bolivia reported a 55% decline, while Guatemala, Ecuador and Honduras saw decreases of 43%, 25%, and 18%, respectively, the trade group said.

FINISHED STEEL OUTPUT

Latin America produced 17.3Mt of finished steel in the period, up 4% year-on-year, according to Alacero.

Brazil was the biggest producer in the region, pumping out 7.3Mt, or 42% of the total, followed by Mexico with 6.2Mt.

TRADE BALANCE

Latin America imported 7.7Mt of finished steel during the period, up 17% from the same period of 2016, accounting for 34% of the region's finished steel consumption.

Finished steel exports from Latin America totaled 3.1Mt, up 9% year-on-year, Alacero said. As a result, the industry reported a trade deficit of 4.6Mt, 23% larger than January-April 2016.