Online Steel Industry Summit Debates Demand Recovery Prospects

SEATTLE (Scrap Monster): The Latin American Steel Trade Association (ALACERO) held its annual meeting on Tuesday, November 10^th. It was the first time that the meeting was held online. Around 3,000 people who participated in the summit shared optimistic view on industry prospects for the rest of the current year and also for 2021.

The Congress noted that the regional steel industry has many growth opportunities, given the degree of development in the region. This is quite evident from the low apparent steel consumption in the region, which stands at 100 kilograms per inhabitant. This compares with almost 300 kilograms per inhabitant in the U.S. and 630 kilograms per inhabitant in China- the largest steel consumer.

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The regional conference noted that Latin American region is being presented with a rare and historic opportunity for industrial development and the expansion of its integrated value chain.

Maxima Vedoya, President, ALACERO stated that the Latin American steel industry looks extremely conmpetitive, having several differential advantages with Asia. The regional growth development calls for a return to the path of growth, which in turn will lead to social growth and generation of quality jobs, he added.