According to data from Alacero, the Latin American Steel Association, crude steel output in Latin America decreased by 2.3 percent in the first half of 2022 compared to the same period in 2021.
Argentina had a rise of 4.1 percent whereas other LatAm nations including Chile (- 14.1%), Peru (- 10.1%), Brazil (- 2.8 %), Mexico (- 1.2 %), and Colombia (- 0.6 %) saw negative growth.
Production of finished steel fell by 1.4 percent in the first half and by 0.4 percent in the second half of the previous year. The decreases happened in Chile (-19.9%), Brazil (-9.2%), Argentina (-4.5%), and Colombia (-5.0%). (-2.3pct). After reaching 13.6 percent in the first half, Mexico continued to rise while Peru (+0.3pct) showed stability.
"The performance of the industry, which is one of the most significant in all economies, varies depending on the nation, but generally speaking, the worldwide crisis brought on by the Russian conflict turned out to last longer than anticipated. As a result, through 2023, consumption is expected to remain low "Alacero stated in a press statement.
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