South American crude steel dropped further in Oct ‘15

SPOKANE (Scrap Monster): According to the recent data published by the World Steel Association, the crude steel production by South American countries edged lower significantly during the month of October this year. The total monthly output declined by 2.5% to 3.961 Million tonnes.

The total crude steel production by Argentina during October was 469,000 tonnes, down marginally by 1.8% than the October 2014 production of 478,000 tonnes. Brazil produced 2.983 Million tonnes of crude steel, dropping by 2.3% when compared to 3.052 Million tonnes production achieved during October last year. The Chilean October crude steel production dropped sharply by 7.4% from 92,000 tonnes in October ‘14 to 85,000 tonnes in October this year. The total crude steel production by Colombia rose nearly 14.2% to 130,000 tonnes in October this year.

Ecuador’s crude steel output jumped higher by 21.4% on year-on-year basis. The crude steel output by Ecuador was 70,000 tonnes in October this year, higher when matched with 58,000 tonnes during October last year.  Paraguay’s crude steel output remained flat during the month.

The crude steel output by Peru increased by 19.4% year-on-year. The crude steel output of Uruguay too rose 2.7% from October last year. Venezuelan production plunged heavily by 38% year-on-year from 161,000 tonnes to 100,000 tonnes.

The following table provides cumulative crude steel output for the first ten months in 2015 in comparison with those during same period in 2014.

Note: Output in thousands of tonnes