Finished steel apparent use in Latin America and the Caribbean reached 44.9Mt in Jan/Aug 2013, similar to the same period of 2012. Finished steel production increased 1% to 37.7Mt.

Production

Between January and September, Latin America produced 42.8Mt of finished, 2% more than the same period 2012. Brazil was the major producer making 19.9Mt, accounting for 46% of the Latin American output. This was followed by Mexico, with 11.9Mt (28%). Chile and Colombia saw production drops of 16% and 12% respectively, comparing to same period of 2012.

In September 2013, finished steel regional production reached 5.1 million tons, 9% more than in September 2012. Argentina increased production 17% y-o-y and Mexico by 11%. In contrast, Colombia saw production fall 4%.

During January-September 2013, crude steel production in Latin America reached 49.7Mt in line with the same period 2012. Brazil continues to be the largest regional producer at 25.9Mt, even though its output decreased 1% y-o-y.

In September 2013, crude steel production in Latin America reached 6Mt, 9% more than in September 2012. This result is mainly due to increased output in in Peru (18%), Argentina (17%), Mexico (13%), Venezuela (12%) and Brazil (6%).

Trade Balance

During January-August 2013, regional finished steel trade displayed a deficit of 7.6Mt, slightly lower than the 8.4Mt in the same period 2012.

In the January-August 2013 period, every country in Latin America and the Caribbean –except Argentina and Dominican Republic- showed finished steel trade deficits. Mexico had the greatest imbalance of -2Mt. Other countries with significant deficits were: Colombia (-1.2Mt), Peru (-1Mt) and Chile (-937kt).