Dow Jones reported that Argentina is expected to report a slight recovery in October's industrial production, but most economists dismiss official figures as failing to reflect the true extent of the slowdown.

AS per report, the national statistics agency Indec is expected to report an October industrial production gain of 0.5% on the year. That would mark the first gain in four months.

(Sourced from www.dowjones.com)

Mexico steel output in 2009 seen at 21pct YoY drop

The national steel chamber said that Mexico's steel production will drop by 21% YoY in 2009 year to 13.6 million tonnes as compared to 2008 as demand fell in the United States. It added that in 2010, Mexican steel consumption could rise 14.5% to reach 21 million tonnes.

Mexico produced 17.2 million tonnes of steel in 2008, when the industry was first hit by slowing sales due to the housing crisis and the financial downturn.

Mr PS Venkataramanann president of the chamber said that "Our country and our sector have been one of the most affected by the drastic fall in international trade and industrial production in the United States."

Mr Venkataramanann, also CEO of ArcelorMittal Mexico, said that the industry could grow in 2010 as Mexico invests in major alternative energy projects like wind turbines that require large amount of steel.

(Sourced from www.reuters.com)