Latin America steel use and output in January

Apparent steel use in Latin America and the Caribbean reached 5.1Mt in January 2013, 1% more than January 2012. During the same month, a marked increase in consumption in Argentina (32%), Peru (10%) and Colombia (7%). Finished steel production grew 3% y-o-y, to reach 4.Mt.

Finished steel production accounted for 9Mt during January-February 2013. Brazil produced 47% of this (4.2Mt). Mexico was the second largest producer with 2.7Mt (30%). In February 2013 Latin American finished steel production was 4.6Mt (1% more than same month of 2012). Largest producers continued to be Brazil (2.1Mt) and Mexico (1.4Mt). Crude Steel production in the region reached 10.3Mt during January-February 2013, 2% less than during the same period of 2012.

In January 2013, crude steel production reached 4.8Mt a 10% decrease y-o-y. However, in February 2013 production increased to 5.5Mt a 4% growth versus February 2012.

Brazil was again the main producer in February 2013 (3Mt), followed by Mexico (1.5Mt). Both countries together represent 82% of regional production. During February 2013, Argentina showed a strong fall in output.

Trade Balance

In January 2013, the finished steel regional trade deficit reached 827kt compared to a deficit of 1Mt in January 2012.

Apart from Argentina, Brazil and Dominican Republic all other countries showed finished steel trade deficits in January 2013. Mexico presented the largest imbalance of 34kt.

Other countries that presented significant trade deficits were Colombia (149kt) and Peru (131kt).