Latin America updates finished steel regional production in Jan-July 2014
29/10/2014 - 02:12:55 | Read 2,525 Time(s)
Latin American and the Caribbean steel market continues to show limited dynamism. Finished steel production decreased 1% while consumption grew 1%. Mean while imports continue to win market share. Regional trade balance keeps on deteriorating as the deficit in tons increased 13% compared to same period of 2013.
Finished steel consumption;
Regional consumption of finished steel reached 40.5 million tonnes in January to July 2014 and registered a 1% growth. The largest increases in consumption in terms of volume and percentages can be observed in Mexico (14%), Colombia (14%) and Argentina (8%). On the other hand, Venezuela, Ecuador and Chile show sharp declines in percentage terms. While the contraction in consumption in GRAPH 01, Brazil was not significant in percentage terms (-3%), it represents a significant drop in volume for the region (446,000 tonnes).
Between January and July 2014, Latin America and the Caribbean produced 38 million tons of crude steel, in line with same period of 2013. Brazil was the largest producer (19.7 million tonnes) and represented 52% of the regional output, even though it showed a slight decline of 1%.
During the same period, Argentina (+11%), Ecuador (+10%), Mexico (+7%) and Peru (+ 4%) displayed the highest growth rates in crude steel production. Venezuela and Chile, however, registered a decline of -43% and -19%, respectively.
In the first 7 months of 2014, Latin America produced 32.6 million tons of finished steel, a 1% decrease YoY. Brazil was the largest producer (14.5 million tonnes), 45% of the Latin American output. Mexico came second (10.2 million tonnes) and represented 31% of regional production.
With growth rates of 14% and 12% respectively, Colombia and Mexico showed the greatest increases in finished steel production versus the first 7 months of 2013. Meanwhile, Venezuela and Chile outputs fell -41% and -23 %.
Advanced information of August 2014 indicates that the crude steel production reached 5.7 million tonnes during that month, 2% less YoY. Between January and August 2014, the accumulated crude steel production reached 43.8 million tonnes, in line with the same months of 2013. Finished Steel production achieved 37.3 million tonnes, down 1% versus January to August 2013.
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