According to the latest data from the Latin American Steel Association (ALACERO), the crude steel production in Latin America grew by 2.1% year-on-year during the first half of this year, reaching 28.5 million tons.
Despite the moderate recovery in production, Latin America’s trade balance continues to show weak figures, with a deficit of 12.3 million tons between January and June of this year. Although steel imports fell by 1.0% during this period, they still meet more than 40% of the region’s apparent steel consumption.
This high level of foreign market penetration continues to threaten the viability of local steelmakers and the sustainability of industrial jobs.
Consequently, ALACERO’s Executive Director Ezequiel Tavernelli emphasized that the trade defense measures being adopted by countries in the region are essential tools for restoring fair competitive conditions and enabling the Latin American steel industry to continue driving development and quality employment across the region.