According to Argentina’s chamber of the steel industry, Acero Argentino (AA), the country’s crude steel production in February totaled 323,600 mt, 20.6 percent less than in January.
Under the same comparative basis, the production of HRC declined by 54.8 percent to 67,300 mt, the production of CRC declined by 22.1 percent to 57,100 mt and the production of long products declined by 23.2 percent to 119,500 mt.
When compared to February 2023, the numbers show crude steel production declined by 9.7 percent, HRC production declined by 61.6 percent, CRC production declining by 32.4 percent and long products production declined by 28.6 percent.
AA mentioned that such sharp declines are demand driven, as it is not possible to notice signs of recovery in the steel value chain, with the sole exception of the energy sector, which maintains the demand for steel products.
According to AA, the construction and domestic appliances sectors remain in downtrend, while the demand from the agriculture machinery sector is not offering signs recovery, even though there are good perspectives for the next crop of the heavy agriculture sector. Meanwhile, the production of the auto industry declined in February by 19 percent on yearly basis.
For March, negative perspectives were raised by a six-day strike of workers in the steel industry, headed by the UOM union.
In the view of AA, such strike was the first of its kind to affect the Argentine steel industry, and was considered as inappropriate, when considering the economic situation of the country.