LatAm Rolled Steel Imports Plummeted in May

SEATTLE (Scrap Monster): The latest trade statistics published by the Latin American Steel Association (ALACERO) suggest subdued economic activity in Latin America and the Caribbean. The weak momentum has led to negative surprises, amid lower world growth, the Association noted.

According to ALACERO, the region imported 2.07 million tonnes (Mt) of rolled steel in May this year. This is significantly lower by 8% when compared with the imports which had totaled 2.25 Mt in May 2018. However, the accumulated rolled steel imports during the initial five-month period of the current year edged higher marginally by 0.1% from what was imported during Jan-May ’18. The regional imports totaled 10 Mt from January to May this year, out of which 7 Mt accounted for flat products. The imports of long products and seamless tubes totaled 2.7 Mt and 283,000t.

The Latin American exports of rolled steel totaled 773,000t in May this year, down by 9% from May 2018. The cumulative Jan-May ’19 exports have dropped by 5% year-on-year to 4 Mt. Out of this long products accounted for 2 Mt, whereas the exports of flat products and seamless tubes totaled 1.6 Mt and 415,000t respectively.

The region’s rolled steel trade recorded a deficit of 1.3Mt in May this year. The deficit was down by 7% over the previous year. Brazil and Argentina recorded positive balance of trade between January and May.