Colombian steel production hits 33-month low in October

Steel production in Colombia fell 24.3% year-on-year in October, according to national industry association ANDI. The 83,100t of long steel produced during October was the industry's lowest output in the last 33 months. Accumulated production for January-October was 1.1Mt, down 2.49% compared to the year-ago period. Global economic troubles have weakened domestic demand in steel producers such as Turkey and China, which in turn have channeled their surpluses toward new markets in Latin America, ANDI said. "This situation, along with local factors stifling competitiveness... explains the damage that the national steelmaking industry is suffering as a result of its inability to compete on equal footing with foreign producers," said the association's director, Juan Manuel Lesmes. During January-September, long steel imports to Colombia jumped 46% year-on-year to 525,000t, of which Mexico accounted for nearly half. Apparent demand for steel rose 11.7% in the same period.