LA steel demand remains flat

Apparent finished steel use in Latin America (exluding Venezuela which lacked data) and the Caribbean reached 15.3Mt in Jan/Mar 2013, 2% less than during the same period of 2012. Meanwhile, finished steel production decreased 1% compared to Jan/Mar 2012, reaching 13.5Mt.

Production

In April, finished steel production in the Latin American mainland reached 4.8Mt, 3% more than April 2012. Finished steel production totalled 18.3Mt between January and April 2013, similar to same period of 2012. Brazil was the largest producer with an output of 8.4Mt (48% of regional production). Mexico followed with 5.4Mt (29%). Colombia displayed a decrease of 31% and Chile’s output fell 17%, compared to the same period 2012.

Together, crude steel production in April in Latin America and the Caribbean reached 5.7Mt, in line with the results of April 2012.

During Jan/Apr 2013, crude steel production reached 21.5Mt, 3% less than same period of 2012. Countries that showed the most marked decreases were Colombia (-32%), Chile (-28%) and Argentina (-19%).

Trade balance

During Q1 2013, regional trade (excluding Venezuela) had a deficit of 2.4Mt, while the shortfall for the same period of 2012 had been 3.1Mt. Between Jan/Mar 2013, every country in Latin America and the Caribbean – except Argentina and Brazil- displayed a trade deficit of finished steel. The largest unbalance was in Mexico (-1Mt). Other countries that displayed significant shortfalls were Colombia (446kt ), Peru (419kt ) and Chile (330kt ).