Latin American's crude steel production falls by 6.6% in Jan-Apr, construction & automotive sectors to be main motors of steel consumption throughout 2023
Time:Mon, 24 Jul 2023 10:56:30 +0800
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According to data from the Latin American Steel Association (ALACERO), during the first four months of 2023, the regional crude steel production was 6.6% less than the same period of the previous year, reaching 19.4 million tons.
The main steel consuming sectors in the region showed a mixed behavior in March, some deepening or maintaining the negative trend since the fourth quarter of 2022 and others showing signs of recovery.
Alejandro Wagner, the executive director of ALACERO, commented that the construction and automotive sectors continue to be the main engines in the recovery of regional steel consumption throughout 2023, mainly in Brazil and Mexico.
