ALACERO: Boosted Exports Lead to Steel Consumption Surge in LatAm Countries

The trade deficit fell by 0.2% in August this year, as compared with the brief increase of 0.4% recorded in the month before that.

SEATTLE (Scrap Monster): The Latin American Steel Industry Association (ALACERO) released steel production figures for the months of August and September this year. It also published consumption figures for July and August, which remained high on account of increased regional export trade.

ALSO READ:

Fresh Investment Needed to Eliminate Steel Industry Carbon Emissions

Alacero Highlights Need to Transform Steel Sector Amid Challenges

The production of crude and rolled steel increased by 2.3% and 3.3% respectively in August this year, when compared with the prior month. It showed slight decline in September 2021. The regional consumption recorded marginal increase by 1.6% during August. The accumulated consumption for the initial eight-month period of the year stood at 38.7%, as compared with 39% in Jan-July ’21.

The trade deficit fell by 0.2% in August this year, as compared with the brief increase of 0.4% recorded in the month before that. Meantime, the accumulated deficit during Jan-Aug ’21 continues to remain 77.2% higher than the first eight months of 2020.

Alejandro Wagner, Director of Alacero stated that the expanded cooperation between countries in the region is likely to further narrow down the trade deficit in the forthcoming months. The positive economic impacts will translate to new high-value jobs in the entire Latin American region, he added.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index