LatAm finished steel consumption stable in H1

Apparent consumption of finished steel in Latin America reached 33.5Mt in the first half, stable when compared with the same period last year, regional steel association Alacero reported.

The biggest increases were in Brazil (+9% or 847,000t), Argentina (+15%, 353,000t) and Uruguay (+4%, 103,000t).

In contrast, Venzuela's finished steel consumption fell 63% year-on-year, Peru's declined 21% and Honduras saw a drop of 7%, the association said.

FINISHED STEEL OUTPUT

Latin America produced 27.4Mt of finished steel during H1, up 5% year-on-year, according to Alacero.

Brazil was the biggest producer, pumping out 11.6Mt, or 42% of the total, followed by Mexico with 9.9Mt.

TRADE BALANCE

Latin America imported 11.7Mt of finished steel during the period, 10% lower than a year earlier, accounting for 35% of the region's consumption.

Finished steel exports from the region rose 3% to 5.2Mt, Alacero said. As a result, the industry reported a trade deficit of 6.6Mt, some 18% lower than in 1H17.