Colombian steelmaker Acerias de Colombia (Acesco) is eyeing the US market, as bearish domestic fundamentals in Colombia remain, a media report from La Republica said.
The Colombian steelmaker, which exports to 11 countries, used to ship about 20,000 mt/year of flat steel to the US, before the Section 232 tariffs were enacted. The company was Colombia’s key flat steel exporter, accounting for most of Colombia’s 30,000 mt/year of steel exported to the US before tariff restrictions were imposed.
Without the US market, Acesco CEO Felipe Gonzalez said perspectives for the Colombian steelmaker in 2019 are “moderate.” Gonzalez said with the US market open to Colombian steel exports, sales to the North American nation could represent up to 10 percent of Acesco’s total revenues.