Latin American imports rise 14 percent

The Latin American Steel Association (Alacero) has reported that production of rolled steel (including stainless) did not grow in South America during January 2015. Consumption rose one percent, while imports increased by 14 percent.

Imports accounted for 35 percent of domestic consumption and increased 14 percent versus the first month of 2014 as a result of the export pressure from the weak global economic growth and industry overcapacity worldwide, especially in China.

In January 2015, Latin America imported two million tons of rolled steel, 14 percent above the level recorded in January 2014 (1.7 million). Currently, rolled imports represent 35 percent of regional consumption, which brings about the disincentive to local industry, trade frictions and threatens jobs. The Latin American rolled steel exports reached 661,000 tons, decreasing 6 percent to January 2014. In the first month of 2015 the region recorded a trade deficit of 1.33 million tonnes. This imbalance is 27 percent higher than that observed in the same period of 2014 (1.05 million tons). In January 2015, all countries in Latin America and the Caribbean showed deficits in trade of rolled steel, showing the greatest in Mexico (503,000 tons), followed by Colombia (200,000 tonnes), Chile (176,000 tons) and Peru (134,000 tons).

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