According to Argentina’s chamber of the steel industry, Acero Argentino (AA), the country’s crude steel production in December reached 333,100 mt in December, 19.4 percent less than in November.
Under the same comparative basis, the production of HRC declined by 21.5 percent to 118,800 mt, the production of CRC declined by 28.6 percent to 69,000 mt and the production of long products declined by 29.0 percent to 143,200 mt.
When compared to December 2022, the numbers show crude steel production declining by 24.2 percent, HRC declining by 34.3 percent, CRC declining by 38.8 percent and long products declining by 27.1 percent.
AA mentioned that the decline of production reflects a shortage of imported raw materials to produce steel, coupled with reduced demand from most consumers sectors.
The shortage of raw materials derives from the difficulties that steel producers are facing, over the last six months, to receive the foreign currencies needed to import the products.
According to AA, the civil construction sector has shown another decline of activities in December, while the automotive sector had a 34.6 percent decline in December from the previous month, considered as seasonal, as on yearly basis such decline was limited to 0.4 percent.
Machinery and agriculture sectors have also shown a seasonal decline in December, also reflecting a dry season that the country’s agriculture is facing, but the perspectives for the coming months are positive, according to the AA.
The energy sector maintains good perspectives for 2024, despite a decline seen in December.
The sector of domestic appliances has shown a decline of demand in December, while the packaging sector maintained a good level of activities in December.