LatAm finished steel consumption edges up

Apparent consumption of finished steel in Latin America reached 16.8Mt in January-March, up 3% compared with the same period last year, regional steel association Alacero reported.

The biggest increases were in Brazil (+10%, or 439,000t), Argentina (+33%, 351,000t) and Panama (+42%, 34,000t).

In contrast, in Uruguay's finished steel consumption dropped 34% year-on-year. Venezuela reported a 17% decline, and Guatemala saw a decrease of 13%, the association said.

FINISHED STEEL OUTPUT

Latin America produced 13.8Mt of finished steel in the first quarter, up 7% year-on-year, according to Alacero.

Brazil was the biggest producer in the region, pumping out 5.8Mt, or 42% of the total, followed by Mexico with 4.9Mt.

TRADE BALANCE

Latin America imported 5.2Mt of finished steel during the period, 6% lower than in 1Q17, accounting for 31% of the region's consumption.

Finished steel exports from the region rose 9% to 2.5Mt, Alacero said. As a result, the industry reported a trade deficit of 2.7Mt, some 18% lower than in January-March 2017.