Latin America produced 53.3 million mt of finished steel goods in 2015, down 5% from 2014, steel organization Alacero said Thursday.
Brazil was the main producer, accounting for 22.6 million mt (42% of the total), followed by Mexico, with 17.5 million mt (33% of the region's total).
For crude steel, output in Latin America and the Caribbean reached 63.5 million mt -- 3% below the total registered a year before. Brazil produced 52% of this total, which represents 33.2 million mt.
Consumption in Latin America hit 68.7 million mt, down 4% year over year. Despite the overall decline, the strongest increases were in Mexico (an additional 1.2 million mt, or growth of 5%), Chile (an additional 264,000 mt, or growth of 10%) and Argentina (an additional 230,000 mt, growth of 5%).
In Brazil consumption dropped 17%, or 4.3 million mt, below 2014. Peru followed, with a contraction of 9%, or 293,000 mt. No details on the tonnages were disclosed.
Imports last year totaled 24.4 million mt, or 2% more than the year before.
"Currently, imports of rolled products represent 36% of consumption in the region, which brings disincentives to the local industry, trade frictions and threatens jobs," Alacero said in a statement.
Latin American exports reached 9.1 million mt, up 6% from the 8.6 million mt exported in 2014.
In 2015, the trade balance registered deficit of 15.3 million mt of finished steel products. "This balance is 0.8% below the observed in 2014 -- 15.5 million mt," Alacero said.
Last year, Brazil was the only country that kept a trade surplus: 2 million mt. Mexico was the country that had the greatest deficit: 6.5 million mt, followed by Colombia (2.3 million mt), Chile (1.8 million mt) and Peru (1.4 million mt).
For January, Alacero foresees finished steel production to reach 4.1 million mt and crude steel output to be 4.7 million mt. These volumes are 10% and 15% below the volumes registered in the same month a year ago.
