LAC's finished steel use down 2% in January-February

Finished steel use in Latin America and the Caribbean (LAC) decreased 2% during January and February 2013 to 10Mt, compared to the same period of 2012, according to figures from regional steel association Alacero. The region produced 8.7Mt of finished steel during the first two months of this year and 13.4Mt in the first quarter, representing a 1% and 2% year-over-year decrease, respectively. Quarterly production was led by Brazil, accounting for 47% of the total, followed by Mexico, with 29%. Finished steel commercial deficit reached 1.6Mt in LAC during January and February, compared to an imbalance of 2.1Mt in the same period last year. This deficit reached most countries in Latin America and the Caribbean, with the exception of Argentina, Brazil and the Dominican Republic. Mexico led with an imbalance of -590,000t followed by Colombia (-312,000t), Peru (-243,000t) and Chile (-214,000t). Crude steel production decreased 13% year-over-year in March to 5.2Mt and 11% in the first quarter to 14.7Mt.