Chinese finished steel exports to Latin America increased by 12 percent year on year in the January-May period this year to 3.8 million mt, the region’s steel association, Alacero, has stated.
China’s total finished steel exports reached 39.5 million mt in the given period, up 30 percent year on year, according to Alacero. Accordingly, Latin America accounted for 9.5 percent of China’s total finished steel exports in the first five months of the year, down 1.5 percentage points year on year. South Korea maintained its place as Latin America’s top source of finished steel imports, with a volume of 5.2 million mt, equivalent to a 13.3 percent share of total imports. In May, Latin America received 540,000 mt of finished steel from South Korea, down 34 percent month on month and decreasing by 37 percent year on year, Alacero said.
In the January-May period, Brazil imported 671,000 mt of finished steel, accounting for an 18 percent share of the region’s imports, while Central America imported 572,000 mt of finished steel (a 15 percent share) and Chile 526,000 mt (a 14 percent share).
Alacero said Cuba, Argentina, the Dominican Republic, Cuba and Mexico were the countries that increased their finished steel imports the most in the first five months of 2015. These countries’ finished steel imports rose by 420 percent, 192 percent, 155 percent and 66 percent year on year, respectively.
According to Alacero, 62 percent of all finished steel Latin America imported from China in the January-May period consisted of flat steel, the volume of which amounted to 2.3 million mt.
Long steel accounted for a 34 percent share of total imports in the given period, with 1.26 million mt.