LatAm finished steel consumption up in H1

Apparent consumption of finished steel in Latin America was 33.1Mt in the first half of the year, up 4% compared with the same period of 2016, regional steel association Alacero reported.

The largest increases were in Mexico (up 10% year-on-year, or 1.2Mt), Colombia (up 4%, or 74,000t) and Chile (up 3%, or 44,000t).

In contrast, in Argentina, finished steel consumption dropped 5%, or 120,000t. Bolivia reported a 52% decline, while Ecuador, Guatemala, and Honduras saw decreases of 21%, 42%, and 21%, respectively, the trade group said.

FINISHED STEEL OUTPUT

Latin America produced 26.2Mt of finished steel in 1H17, up 11% year-on-year, according to Alacero.

Brazil was the biggest producer in the region, pumping out 10.9Mt, or 42% of the total, followed by Mexico with 9.4Mt.

TRADE BALANCE

Latin America imported 10.9Mt of finished steel during H1, up 13% from the same period 2016, accounting for 33% of the region's finished steel consumption.

Finished steel exports from Latin America totaled 4.7Mt, up 9% year-on-year, Alacero said. As a result, the industry reported a trade deficit of 6.2Mt, 17% larger than January-May 2016.