Latin American steel output and demand grew in Jan-Feb '15

BRUSSELS (Scrap Monster): The latest data published by the Latin American Steel Association (ALACERO), the region’s rolled steel products output rose 4% during the initial two months of the year 2015. At the same time, apparent steel consumption by the region increased 8% during the two-month period.

As per data, Latin America imported 4.4 million tons of rolled steel during January to February this year, rising significantly higher by 32% when compared with the total imports of 3.3 million tons during the corresponding two-month period a year ago. The rolled imports during the month represented 37% of the total regional consumption. The region’s exports dropped 1% over the previous year to total 1.3 million tons, thereby resulting in a trade deficit of 3.1 million tons of rolled steel. In Jan-Feb ’15, all countries in the region reported deficits in rolled steel trade. The biggest deficits were reported by Mexico (-931 000 tonnes), Peru (-720 000 tonnes) and Colombia (-433 000 tonnes).

The rolled steel consumption in the region was up by 8% in January-February this year. The consumption totaled 11.8 million tons during the two-month period. The consumption skyrocketed 95% in Peru. Colombia and Mexico too recorded % rise in consumption by 13% and 12% respectively. On the other hand, Argentina saw sharp 11% drop in consumption. The rolled steel consumption by Brazil contracted 4% during the two-month period.

In Jan-Feb ’15, Latin America produced 9.3 million tons of rolled steel, 4% higher than the production during the same period a year ago. Brazil’s production totaled 4.3 million tons, accounting for 46% of the region’s total production. Mexico stood second with total output of 2.9 million tons. The production by Chile and Brazil increased 8% and 7% respectively. Meantime rolled steel production dropped by 15% in Venezuela.

Also, advance information of March 2015 indicates that the rolled production grew by 3% to 4.9 million tons.