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Steel News February 12, 2019 08:30:00 AM

LatAm Crude and Finished Steel Output Soared in 2018

Paul Ploumis
ScrapMonster Author
The region’s crude steel production totaled 65 million tons (Mt) in 2018, as compared to 64.2 Mt in 2017.
LatAm Crude and Finished Steel Output Soared in 2018

SEATTLE (Scrap Monster): The finished steel output by the Latin American and Caribbean region reported marginal growth by 2% in 2018. The crude steel output by the region too was up marginally by 1% when compared to 2017. The rise in production is mainly attributed to the global and regional improvement in economic conditions, noted Latin American Steel Association (Alacero) in its report published yesterday.

The imports of steel products by the region recorded notable decline by 7.8% during the previous year. Incidentally, imports accounted for 35% of the total regional steel consumption. Exports dropped by 5% over the previous year. The trade balance continued to remain negative. Francisco Leal, CEO of Alacero noted that steel production by the region improved during the year, despite consumption remaining more or less stable.

The region’s crude steel production totaled 65 million tons (Mt) in 2018, as compared to 64.2 Mt in 2017. Brazil- the leading producer in the region reported an output of 34.7 Mt, thereby accounting for 53% of the total regional production. The region’s crude steel production totaled 5 Mt in December 2018.

The yearly finished steel production totaled 53.7 Mt in 2018. The primary producer was Brazil with an output of 23.1 Mt, followed by Mexico with 19 Mt. Of the total finished steel production, flat products accounted for 49%, whereas long products and seamless pipes accounted for 48% and 3% respectively.

The finished steel consumption during the year remained more or less unchanged over the previous year at 6.16 Mt.