Crude Steel Output Plunged 9.4% in South America

SEATTLE (Scrap Monster):  The production statistics published by the World Steel Association (worldsteel) for the month of March 2020 indicates notable decline in crude steel production by South American countries.

The South American crude steel output totalled 3.260 million tonnes (Mt) during the month. This compares with the output of 3.598 Mt in March last year. Paraguay recorded highest production jump, with its output surging higher by over 208% over the previous year from around 1,000 tonnes to approximately 2,000 tonnes. On the other hand, Venezuelan output declined the most, falling by over 81% year-on-year.

ALSO READ: Crude Steel Production by Asian Countries Dipped 4%

The largest producer in the region, Brazil, saw its output fall by 8.2% from 2.869 Mt to 2.635 Mt. The second largest regional producer, Argentina reported almost 27% decline in monthly production from 391,000 tonnes to 286,000 tonnes. In third place was Peru and Colombia with total production of nearly 100,000 tonnes each. The output by both the countries registered year-on-year declines during the month.

The regional production in Jan-Mar ‘20 totalled 9.964 Mt. The leading producers were Brazil (8.018 Mt), Argentina (928,000 tonnes) and Colombia (304,000 tonnes). All countries in the region except Chile, Uruguay and Ecuador reported reduced output during the month.

Incidentally, the global crude steel production had totalled 147.054 Mt in Mar ‘20 and 443.030 Mt in the initial three-month period of the year.