Peruvian steelmaker Corporación Acero Arequipa has exported 40,000mt of steel billets to China for the first time in 55 years.
The company cited the shipment as a milestone for the Peruvian steel industry in a recent media statement. The cargo shipped from the west coast of Latin America is slated to be delivered at Jiangyin port in Jiangsu, China by the end of this month.
Aceros also stated that it will bank on its new $180mn steelworks plant in Pisco, Peru, which will produce 1.5mn mt of liquid steel, beginning in 2021. This project is expected to boost the company’s output to 2mn mt, virtually negating the 500,000mt of steel that Peru imports.