Latin American Steel Industry Witnessed Huge Upturn in 2017

The apparent steel consumption by the region rose modestly by 4% over the prior year to total 67.3 Mt in 2017. It must be noted that the regional steel consumption had totaled only 58.7 Mt in 2016.

SEATTLE (Scrap Monster):  The trade figures released by the Latin American Steel Association (Alacero) suggest that the regional steel market recovered substantially during the previous year.

The crude steel production by Latin American and the Caribbean region totaled 63.9 million tons (Mt) in 2017, higher by nearly 7% when compared with the previous year. The top most producing country was Brazil with yearly production totaling 34.4 Mt, accounting for 54% of the total regional production. The country’s production rose 10% in 2017. Meantime, the finished steel output by the region jumped higher modestly by 4% to total 52.9 Mt. Again, Brazil emerged as the leading producer with an output of 22.4 Mt, followed by Mexico with 18.7 Mt during the year.

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The apparent steel consumption by the region rose modestly by 4% over the prior year to total 67.3 Mt in 2017. It must be noted that the regional steel consumption had totaled only 58.7 Mt in 2016. Argentina recorded 18% jump in consumption, whereas it recorded 13% in Peru. The other countries to report rise in steel consumption were Brazil (up 5%) and Mexico (up 4%). On the other hand, the growth in steel consumption in these countries was partially offset by huge declines in other countries such as Venezuela (down 22%), Panama (down 17%) and Bolivia (down 15%). Among various categories, flat steel products accounted for 57% of the total steel consumption, flowed by long products (41%) and seamless tubes (1%).

Latin American finished steel imports reached 20.6 Mt, 4% more than 2016. The finished steel exports by the region totaled 9.8 Mt, 12% higher than 2016. The trade balance for the year recorded deficit of 10.8 Mt, slightly lower by 2% when compared with the deficit of around 11.0 Mt recorded in 2016. The only countries in the region to report finished steel trade surplus during the year were Brazil and Argentina.

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