Latin America produced 4% less finished steel in January-September 2015 than in the same period last year, reaching 40.3 million mt, regional steel trade group Alacero said Monday.
In the period, Brazil was the main producer, with 17.4 million mt -- or 43% of the region's total. Mexico, the second biggest producer, registered output of 13.2 million mt -- or 33% of the total.
For crude steel, output shrank 2% year over year between January and September to 48.3 million mt. From this total, Brazil produced 52% (25.2 million mt), a year over year reduction of 1%, Alacero added.
Apparent steel consumption in the first three-quarters of this year reached 52.2 million mt, which is 2% below the volume registered in the same period a year ago.
"The largest increases in consumption in absolute and percentage terms were recorded in Mexico (1.6 million additional mt and a year over year increase of 9%) and Chile (142,000 additional mt, up 7%). Argentina also registered a 1% increase in consumption of rolling, 50,000 more than during the first nine months of 2014 mt," Alacero said.
Consumption of rolled steel in Brazil fell 2.76 million mt, down 14% when compared to Jan-Sept 2014, while Colombia and Peru recorded declines of 3% and 14%, respectively.
In the period, Latin America imported 18.5 million mt of rolled products. It is 3% more than in the same nine months last year, when the region imported 18 million mt. Currently, said Alacero, imports of finished steel products represent 35% of the region's consumption.
Exports grew 11% over year to 6.7 million mt. In the same months in 2014, exports totaled 6.1 million mt.
Steel trade deficit for steel reduced 1.4% in January-September 2015 when compared to the same period last year, reaching 11.7 million mt. In the year-ago period it was 11.9 million mt. Brazil was the only country that had surplus rolled steel goods, with 1 million mt.
The largest deficit was recorded in Mexico (minus 5.2 million mt). It was followed by Colombia (minus 1.6 million mt), Chile (minus 1.4 million mt) and Peru (minus 1.1 million mt).
For October, Alacero expects crude steel production to reach 5.9 million mt (up 1% year over year) and rolled steel goods to reach 4.7 million mt (down 2% year over year).
