Alacero believes that the volume of consumption of steel products this year will increase
Latin American steel Institute (Alacero) has provided fresh data for the previous year. The consumption of finished steel products in the region declined. In 2018 he was about 67 million tons. Compared to the previous year, the figure fell 1%. Demand fell substantially in several countries.
In Mexico, the figure fell by 3.2%. In quantitative terms, the volume decreased by 900 thousand tons. In Peru, the demand was lower by 16.4%. This is 600 thousand tons less than in 2017. Brazil, by contrast, has increased figure. Thus, the demand for rental grew by 7.3%. It has increased by 1.4 million tons. But it did not save the situation in the whole region.
With regard to steel production, it has increased. Latin America produced in 2018 65.1 million tons. Compared to the previous year, the result increased by 3.4%. Finished steel produced 53.7 million tonnes. It is also more than it was in 2017. The difference is 1.6%. Mainly smelting of steel and rolled steel are engaged in Brazil and Mexico. Their products account for 80% of the total regional release.
Finished steel products last year, less exported. The volume of export amounted to 9.8 million tons. This is 8% less than the year before. The volume of imports declined even more. The decrease amounted to 10%. So imported steel products 22.7 million tons. However, the trade deficit narrowed. Brazil and Argentina remain the only net exporters of rolled products and pipes. This refers to the only one in the region.
The biggest difference between exports and imports reported in Mexico. It is 6.6 million tons. In January 2019, the volume of steel production was 5.4 million tons. We are talking about the figure in the whole Latin America. A year earlier, the figure was 2.2% lower.