Latin American Finished Steel Trade Deficit Surged 18%, says ALACERO

The Latin American crude steel production totaled 53.3 million tons (Mt) during the first ten months of 2017.

SEATTLE (Scrap Monster): The latest trade figures released by the Latin American Steel Association (Alacero) indicate that apparent steel consumption by the region recorded strong growth during the initial ten months of 2017. The steel crude and finished steel production by the region too climbed higher. Also, the trade deficit soared by 10% when compared with the year before.

The Latin American crude steel production totaled 53.3 million tons (Mt) during the first ten months of 2017. The production volumes were 7% higher when compared with the corresponding period last year. The region’s crude steel output had totaled 49.9 Mt during Jan-Oct ’16. The leading steel producer in the region was Brazil, which accounted for 53% of the regional production. With production totaling 28.5 Mt, the country recorded 9% year-on-year jump during Jan-Oct ’17.

The production of finished steel edged higher marginally by 3% during Jan-Aug ’17. The finished steel production touched 44.0 Mt. Brazil was the main producer of finished steel. The country’s output totaled 18.7 Mt, accounting for 42% of Latin American output. In second place was Mexico with an output of 15.6 Mt. The country accounted for 36% share of the regional output.

The region’s finished steel consumption totaled 55.3 Mt, higher by 4% when matched with 53.2 Mt during Jan-Oct ’16. The largest jump in consumption was reported by Mexico. The country’s finished steel consumption grew by 7%. Brazil, Argentina, Colombia, Dominican Republic and Chile too recorded increased consumption. On the other hand, Bolivia reported considerable decline (18%) in consumption during the ten-month period. The other countries to report notable decline in consumption were Venezuela (-15%), Panama (-9%) and Ecuador (-6%).

During the first ten months of 2017, Latin American region imported 9% more finished steel. The imports by the region totaled 17.7 Mt, as compared with 16.2 Mt in Jan-Oct 2016. Also, the regional exports of finished steel recorded 9% increase over the previous year to total 7.9 Mt. The finished steel trade deficit of 9.8 Mt during this period was 10% higher over the previous year deficit of 9.0 Mt.

The advance information for the month of November states that crude steel production by the region has reported marginal year-on-year decline of 1%. The monthly output is estimated to touch 5.5 Mt, whereas the cumulative output during the first eleven months of the year is likely to remain higher by 7% year-on-year at 58.8 Mt. Also, finished steel production for Nov ’17 and Jan-Nov ’17 are likely to touch 4.6 Mt and 48.6 Mt respectively.

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