LatAm Crude Steel Output Shrinks 6%

The three primary steel producers were Mexico, Brazil and Argentina.

SEATTLE (Scrap Monster): The steel industry statistics by the Latin American region continued to worsen in February this year, on account of crisis and economic uncertainties caused by the COVID-19 pandemic.

The data published by the Latin American Steel Association (Alacero) indicates that crude steel production by the region totalled 4.8 million tons (Mt) during February this year, significantly down by almost 6% from the same month a year before. The rolled steel production, at 3.4 Mt, was down by 2% from the prior year.

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The three primary steel producers were Mexico, Brazil and Argentina. The monthly steel output by Mexico and Brazil recorded declines by 17% and 1% respectively from February 2019, whereas the output by Argentina posted 8% surge. The cumulative production in the first two months of the current year saw 15%, 7% and 6% declines in Mexico, Argentina and Brazil respectively.

Many steel mills in the region have been operating blast furnaces at lower capacity, in order to balance production with reduced market demand. The low economic activity in the region since end-2019, coupled with general confinement due to the virus has significantly impacted regional steel demand, said Francisco Leal, CEO, Alacero.

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