Latin America produced 44 million mt of finished steel from January through October, up 3% from the same period a year ago, regional steel organization Alacero said Wednesday.
Brazil, the main producer, registered output of 18.7 million mt of finished steel, accounting for 42% of the region's total. Mexico was second with 15.6 million mt, 36% of regional output.
The region produced 53.3 million mt of crude steel in the 10-month period, up 7% year on year, Alacero said. Brazil remains the main producer in the region, with 28.5 million mt, or 53%, up 9% from the 10-month period in 2016.
Apparent consumption of finished steel was 4% higher year on year at 55.3 million mt. Of Latin America's total steel consumption, 57%, or 31.7 million mt, corresponds to flat products; 41%, or 22.4 million mt, to long products; and 2%, or 1.1 million mt to seamless tubes, Alacero said.
The largest increases in consumption -- in absolute and percentage terms -- were recorded in Mexico (1.4 million mt, or 7%), Brazil (737,000 mt, or 5%), Argentina (193,000 mt, or 6%), Colombia (68,000 mt, or 2%), Dominican Republic (32,000 mt, or 9%) and Chile (26,000, or 1%).
Conversely, in the same period, consumption declines were recorded in Bolivia (18%), Venezuela (15%), Panama (9%)and Ecuador (6%).
Imports of finished steel products in the period reached 17.7 million mt, up 9% from a year ago. Of that, 70%, or 12.4 million mt, were flat products; 27%, or 4.8 million mt were long products; and 3%, or 480,000 mt, were seamless tubes.
"Currently, imports represent 32% of the regional finished steel consumption, which brings about disincentives to the local industry, trade frictions and threatens jobs," Alacero said.
Exports from the region reached 7.9 million mt, up 9% year on year. Of this, 50%, or 3.9 million mt, were flat products, 41%, or 3.2 million mt, were long products and 9%, 717,000 mt were seamless tubes. Thus the region registered a steel trade deficit of 9.8 million mt during the 10-month period, Alacero said, 10%, or 9 million mt, above the same period of 2016.
Brazil and Argentina were the only countries to maintain a trade surplus of finished steel, at 2.6 million mt and 77,000 mt, respectively, Alacero said. "The largest deficit was recorded in Mexico (4.6 million mt), followed by Colombia (2 million mt), Chile (1.3 million mt) and Peru (1.2 million mt)."
Alacero estimated that, in November, regional finished steel production came to 4.6 million mt, up 7% year on year, and crude steel output was 5.5 million mt, down 1% year on year.
For January through November, finished steel production is estimated at 48.6 million mt, up 3% from 47 million mt the same period a year ago. Crude steel volume for the 11-month period is estimated at 58.8 million mt, up 7% from 55.1 million mt the same period a year ago.
