Latin America Apparent Steel Use grows 5% Jan – Nov

Apparent steel use in Latin America and the Caribbean reached  60.5Mt during January-November 2012, 5% up on the same period of 2011. Growth of regional consumption was mainly driven by Chile (+23%), Peru (+16%) and Mexico (+15%). Production of finished steel increased 3% compared to same period 2011 amounting to 52.4Mt.

In November 2012, region′s finished steel use was 5.5Mt, 8% up on the same period 2011.

Production

Production of finished steel reached 57.6Mt in the full year 2012. Brazil accounted for 46% (26.6Mt) of this while Mexico was the second largest producer at 16.5Mt (29%).

In December 2012, finished steel production reached 5.2Mt in Latin America, 23% more than December 2011. Brazil produced 2.3Mt and Mexico produced 1.6Mt stimulating this growth. Finished steel production in December increased 5% compared to November 2012.

Latin American crude steel production reached 67.3Mt for the full year 2012, 1% below that of 2011. Nevertheless, in December 2012 crude steel production was 6Mt 14% higher than in the same month of 2011.

Of this Brazil produced half at 3Mt, 12% more than in November 2011. Crude steel production in Argentina fell by 9% compared to December 2011.