Latin American and Caribbean apparent use of finished steel was 38.7Mt in the first seven months of the year (Jan-July) while finished steel production was of 32.4Mt. Both figures dropped 1% compared to the same period 2012.

August 2013 production of finished steel reached 4.8Mt, 3% higher than that of August 2012. Venezuela and Argentina were the countries that increased production the most, compared to August 2012, by 27% and 13% respectively. In contrast, production fell in Colombia, Chile, and Mexico by 22%, 11% and 4% respectively.

During January/August 2013, finished steel production in the region reached 37.2Mt, 1% less than same period 2012. Brazil remains the largest producer with an output of 17.6Mt and a 47% share of regional production. Mexico follows with 10.1Mt and a 27% share.

Crude steel production in Latin America reached 43.2Mt, 2% lower than during the same period 2012. Brazil was again the largest regional producer making 22.9Mt, a decrease of 1% compared to January/August 2012.

In August 2013, crude steel production reached 5.7Mt, 4% more than August 2012.

Trade Balance

During January/July 2013, finished steel trade in Latin America showed a deficit of 6.7Mt, slightly lower than the 7.3Mt during the same period of 2012. In January/July 2013, every country in Latin America and the Caribbean –with the exception of Argentina and the Dominican Republic – showed a deficit in the finished steel trade balance. Mexico had the largest imbalance (-1.7Mt). Other countries that presented significant deficits were: Colombia (-1.0Mt), Peru (-912kt) and Chile (-821kt).

Source: Alacero