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

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.

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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.