Argentina’s crude steel production increased by 8pc in February to 343,800t (311,890mt) compared to the same month in 2019.

 

Steel production rose because consumption grew, according to a statement from the Argentine Chamber of Steel. While steel mills halted operations in January, they quickly came back online in February, the Chamber added.

 

The Chamber also warned that March steel production will be negatively impacted by the COVID-19-induced quarantine, which the country’s government’s implemented on March 20. 

 

Hot-rolled coil production increased by 5pc to 239,400t in February 2020, while cold rolled coil surged to 107,200t, rising by 139.3pc from February 2019.

 

On an annual basis, iron ore production declined by 8.3pc to 247,900t in February 2020.

 

The chamber noted that there is low activity in the construction sector, as well decelerated development of new energy projects, which may affect the steel demand over the subsequent few months.

 

The construction industry’s growth in Argentina decreased by 7.9pc in 2019 compared to the prior year, according to figures from the National Institute of Statistics and Census.

 

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