Latin steel imports this year are expected to decline

The Latin American Iron and Steel Association (Alacero)recently estimated that Latin America's steel imports this year will reach 23.5million tons, down 6.5% year-on-year; crude steel production will reach 66.3million tons, up 3%. Alacero expects that in 2018, demand for apparent steel inLatin America will increase by 1.3% to 68.5 million tons, of which finishedsteel consumption is 55.9 million tons, up 5.6% year-on-year. Imports accountedfor about 34% of consumption.

By country, Alacero expects Argentina's crude steel output toincrease by 18% year-on-year in 2018, and crude steel production in Mexico,Ecuador and Uruguay will increase by 4% year-on-year. Venezuela's crude steeloutput will decrease by 61% year-on-year. Chile It will decrease by 8% year-on-According to the World Steel Association, in the first nine months of thisyear, crude steel production in South America was 33.168 million tons, anincrease of 2.5%. Among them, Argentina increased by 16.1% year on year, Brazilincreased by 2.5% year on year, Ecuador increased by 3.8% year on year, Peruincreased by 2.5% year on year, Uruguay increased by 2.9% year on year,Venezuela decreased by 65.5% year on year, Colombia decreased by 12.8% year onyear, and Paraguay decreased by 8.1% year on year. Chile decreased by 4.8%year-on-year.