Scrap Monster
Vulcan
Vulcan
Steel News May 15, 2019 09:30:53 AM

LatAm Indirect Steel Imports from China Surged 18%

Paul Ploumis
ScrapMonster Author
The primary consumers of indirect steel from China were Brazil and Mexico.
LatAm Indirect Steel Imports from China Surged 18%

SEATTLE (Scrap Monster):  According to Latin America Steel Association (ALACERO), the Chinese exports of indirect steel trade to Latin America surged 18% in 2018. The yearly trade was valued at $47,468 million. The volume of steel in products from China increased significantly by 12% upon comparison with the previous year to total 6.8 million tonnes (Mt) in 2018.

The primary consumers of indirect steel from China were Brazil and Mexico. The above two countries did account for nearly 56% of the total consumption by the entire Latin American region. The Mexican indirect trade with China was valued at $16,210, surging higher by 25% over the previous year. Meantime, Brazil’s trade with China soared nearly 38% to total $10,590 million.

The key product in the indirect steel trade with China was cars and commercial vehicles, which were valued at $9,098 million. The second leading category was Office Machines, whose indirect trade totaled $6,564 million. The Machines and Equipment category reached third with a total value of $5,763 million.

The exchange of finished steel and derivatives between China and Latin America continued to grow in 2018. The total Chinese exports of finished steel and derivatives totaled 7.34Mt during the year, higher by 4% from 2017. The primary destination of imports was Chile, which received 21% of the regional total, followed by Central America and Peru.