Steel consumption in Latin America increased by 17pc to 18.4mn mt in Q1 2021 compared to the same period last year and 5.5pc compared to 2019, according to the Latin American Steel Association (Alacero).
Monthly demand also trended up, after consumption increased by 27pc in March compared to the same month in 2020 and 17.4pc compared to 2019, to reach 6.71mn mt, Alacero reported on Thursday.
The association noted that the rise in consumption was driven by growth in the construction and manufacturing sectors.
in Q1 2021, imports also rose by 15pc to 6.4mn mt compared to 2020 and by 9pc compared to 2019. China increased its shipments to Latin America In March to 52pc of steel imports compared to 33pc in February and 30pc in January.
On the other hand, exports trended down falling by 17pc to 1.8mn mt in the first quarter, compared to Q1 2020 and 23.6pc against Q1 2019.
Rolled steel imports rose by 15pc in January-March 2021, to reach 6.4mn mt from 5.5mn mt purchased in 2020. While exports of this material fell by 17pc in the same period, reaching 1.8mn mt from 2.1mn mt in the same period last year.