Latin American steel association Alacero has announced the region’s steel production data for January 2024 and its consumption and trade data for December 2023. 2024 began with a considerable rebound in steel production in January compared to December 2023.
Accordingly, in January this year, the region’s total steel production reached 4.99 million mt, rising by 8.8 percent compared to the previous month and falling by 1.7 percent year on year. In the given month, the production of rolled steel products in the region totaled 4.57 million mt, increasing by 12.4 percent month on month and up by 3.3 percent year on year. In January this year, Latin American long production amounted to 2.2 million mt, increasing by 18.9 percent compared to December 2023, while its flat production totaled 2.25 million mt, rising by 7.1 percent month on month. In addition, in January, seamless pipe production rose by 5.9 percent month on month to 121,400 mt.
Meanwhile, in December last year, total rolled steel consumption in the region amounted to 5.55 million mt, down by eight percent month on month and up by 5.9 percent from the same month last year, while in 2023 the region’s consumption increased by 5.4 percent year on year to 73.0 million mt.
Looking at the Latin America’s steel trade, the region’s rolled steel exports in December last year totaled 678,000 mt, up by 26.7 percent month on month and down by nine percent year on year. In 2023, the region’s exports were 26.3 percent lower year on year, totaling 7.71 million mt. Meanwhile, the region’s rolled steel imports in December 2023 totaled 2.08 million mt, falling by 3.9 percent compared to November 2023, and up by 10.3 percent year on year. Last year, the region’s imports increased by 14.1 percent year on year to 27.85 million mt.