Latin American crude steel production fell by 6pc to 4.8mn mt in February compared to the same month in 2019, because production from Brazil and Mexico declined.
The Latin American Steel Association’s (Alacero) latest data noted that Mexico was responsible for the largest share—17pc—of the production decline, followed by Brazil at 1pc. However, Argentina’s output rose by 8pc, Alacero said.
Finished steel production also decreased by 2pc to 3.4mn mt in February compared to the prior year period, the association added.
Steel production is expected to keep declining because of the COVID-19 pandemic, as well as its economic fallout, Alacero warned.
Steel exports fell by 20pc in January compared the same month in 2019, while imports slightly increased by 0.1pc, Alacero said without disclosing volume.