Latin American steel exports to the US soared 40% y-o-y in August

BEUNOS AIRES (Scrap Monster): As per data released by the US Census Bureau, steel exports from Latin American region to the country surged by over 40% in August over the exports during same month the previous year.

The total steel exports from Latin America to the US in August amounted to 773,451 tonne. This is 40.2% higher when compared to the total exports of 551,564 tonnes during August 2012. The value of the exports was up 7% in August to $500 million from $467 million during same month last year.

Brazil accounted for almost 46% of the total exports. The exports from Brazil totaled 361,970 tonnes during August. The second largest steel exporter to the US was Mexico. The steel exports from Mexico during the month totaled 303,888 tonne, jumping by more than 62% from 187,118 tonnes exported during August 2012.

Argentina’s steel exports to the US soared by nearly 365% from 21,695 tonnes in August 2012 to 100,682 tonnes in August this year. The exports from Colombia witnessed a sharp decline during the month. The year-on-year exports from Colombia to the US plunged 84% from 6,210 tonnes in August last year to mere 992 tonnes this year.

By value, Mexico was the biggest exporter of steel to the US. The total steel export value of Mexico during August amounted to $243 million, followed by Brazil with $195 million and Argentina with $55.1 million.