Latin American Steel Association (Alacero) reports that figures for the first 10 months of 2014 continue to show that the Latin American steel market is not growing, which is in line with the regional and global economic deceleration. However, consumption, increasingly supplied by imports only grew by one percent and finished steel imports currently account for 33 percent of the Latin American consumption. In Jan/Oct 2014 deficit (in tons) deepened 14 percent compared to the same months of 2013.
During January-October 2014, Latin American consumption of finished steel reached 58.3 million tons, up one percent compared to the same period of 2013. The largest increase in consumption, both in volume and percentage terms, was recorded in Mexico with 2.3 million additional tons, which is an increase of 14 percent).
In Jan/Oct 2014, Latin America imported 19.1 million tons of finished steel, which is seven percent more than the volume received in the same period of 2013 (17.9 million). Currently, finished steel imports account for 33 percent of the regional consumption, which brings about disincentives to the local industry, trade frictions and job losses. At the beginning of this decade (Jan/Oct 2010) the share of imports was 24 percent.