In the first nine months of the current year, Chinese finished steel exports amounted to 58 million mt, up 44 percent, and of this volume six million metric tons arrived in Latin America, up 54 percent, both on year-on-year basis, according to Alacero, the Latin American steel association. Thus, Latin America expanded its share from 9.7 percent to 10.3 percent in China's finished steel exports and ranked as the second biggest destination for Chinese finished steel exports after South Korea. In September alone, Latin America's finished imports from China increased by 49 percent year on year to 610,787 mt and decreased by 15 percent compared to August.
In the first nine months, China's main finished steel export destinations in Latin America were Brazil with 1.5 million mt, up 45 percent and with a 25 percent share of China's total finished steel exports to Latin America, Chile with 946,325 mt, up 75 percent and with a 16 percent share, and Central America with 935,776 mt, up 67 percent and with a 14 percent share, all on year-on-year basis.
Meanwhile, in the same period, Latin America received 4.03 million mt of flat steel and 1.61 million mt of long steel from China.
Alacero stated that the increase in Latin America's finished steel imports from China affects the productive and financial viability of domestic producers. To counteract this, there are 15 ongoing actions and 24 measures in force against Chinese unfair steel trade practices in Latin America. At the last Alacero-55 Congress in November, Alacero officials reiterated their call for immediate action by the governments of the region to ensure regional competitiveness against China.