South America Reports 9% Surge in March Crude Steel Output

SEATTLE (Scrap Monster): The South American region recorded significant jump in crude steel output during March this year. According to recent production data published by the World Steel Association (worldsteel), the regional steel production surged nearly 9% during the month, when compared with March last year. All countries in the region except Venezuela reported jump in steel production during the month.

The South American steel output totaled 3.990 million tonnes (Mt) in March 2018, as compared with the output of 3.669 Mt in March last year, recording 8.7% year-on-year growth in production volume. The combined regional output during the initial three-month period of the year too was up by 6.8% to total 11.126 Mt.

Brazil was the leading crude steel producer in the region. The country accounted for almost 77% of the total regional output. The Brazilian output was up by 7.6% over the previous year to total 3.065 Mt. It must be noted that Brazil’s production had totaled only 2.848 Mt in March 2017. The production by the country totaled 8.645 Mt during the first quarter of 2018, 5% higher from 8.248 Mt during Q1 last year.

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The second largest producer, Argentina recorded considerable jump in output during the month. The country’s output surged higher by approximately 21% from 392,000 tonnes in March last year to 474,000 tonnes in March 2018. Colombia emerged as the third largest producer in the region with an estimated output of 125,000 tonnes. The country’s output increased sharply by 7% when compared with the output of 117,000 tonnes in March 2017.

The countries to report biggest year-on-year jumps in February were Paraguay, Uruguay and Ecuador. Paraguay reported 67% year-on-year jump in production. The production by Uruguay and Ecuador surged higher by 25% and 20% respectively. Meantime, Venezuela was the only country to report reduced output. The March 2018 steel output by the country declined sharply by nearly 18% over the previous year.

The South American crude steel output had increased by 7% in February this year.