Latin American Steel Consumption Contracts by 10% in 2020
Latin American steel association Alacero announced that Latin American steel consumption in December2020 registered an increase of 10% compared to the
Latin American steel association Alacero announced that Latin American steel consumption in December2020 registered an increase of 10% compared to the previous month and 16% compared to the same month in 2019, reaching a cumulative 58.9 million tonnes, highest monthly indicator since March 2017. The share of imports in consumption in December 2020 (35%) was above the value recorded in the last 5 months (27-30%), influenced by strong demand. Exports in December 2020 grew by 23.6% compared to the previous month,
Consumption in 2020, however, registered a fall of 9.6% compared to 2019, due to the contraction of industrial activity in the months of strict confinement. The share of imports in consumption for the year closed at 33%, falling below the 35-37% range of previous years.
In January 2021, crude steel production maintained its growth trend and reached levels 8.7% higher than those of January 2020, reaching 5.3 million tonnes. However, global excess capacity continues to be a risk for the domestic consumption, which is growing.