Latin American Steel Output Retraced pre-Covid-19 Levels

The year-end surge in production failed to lift cumulative production during Jan-Nov ’20 above the previous year level.

SEATTLE (Scrap Monster): The crude steel output witnessed strong rebound in several countries in the Central and South American region during the month of November 2020. The production levels of the region’s primary steel producers-Mexico and Brazil surpassed the year-ago levels.

The $11.5 billion infrastructure spending plan recently announced by Mexico’s government boosted the country’s steel output, though marginally by 1.7% compared with November 2019. The country produced 1.45 million metric tons during the month. The statistics published by the World Steel Association (worldsteel) indicates that Brazilian production surged higher by 11.2% year-on-year to total around 3 million metric tons. This boost in output helped the South American region to improve its output by 8.3% to 3.65 million metric tons.

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The year-end surge in production failed to lift cumulative production during Jan-Nov ’20 above the previous year level. All Latin American countries except Chile reported reduced steel output levels during the initial eleven-month period of the year. The Brazilian output stood lower by 6.7%, whereas the output by Mexico dipped by 10.6%. Upon comparison, the U.S. steel output tumbled by nearly 18% during Jan-Nov ’20.

Meantime, the Venezuelan production was down sharply by approximately 48% in the first eleven months of the previous year.

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