Rising supply and demand in Latin America

Steel imports in Latin America rose in 2017 and exports increased at the same time, according to the BNAmericas website.
Statistics from the Latin American Steel Association (Alacero) show that Latin American steel imports increased to 20 million 600 thousand tons in 2017 from 19 million 800 thousand tons in the previous year, up by 4%.
Of the imported products, 70% are flat steel products, 27% are long wood products and 3% are seamless tubes.
The Latin American Iron and Steel Association said that imports accounted for 30% of the steel consumption in the area, which would have adverse effects on the development of the steel industry in the region, causing trade friction and affecting employment.
In 2017, the export of steel in Latin America was 9 million 800 thousand tons, up by 12%. Among them, 4 million 900 thousand tons of flat steel, 4 million tons of long wood products and 882 thousand tons of seamless steel tubes.
The iron and steel trade deficit in Latin America was 10 million 800 thousand tons in 2017, slightly below 11 million tons in the previous year. The largest trade deficit was 5 million 300 thousand tons in Mexico, followed by 2 million 100 thousand tons in Columbia, 1 million 600 thousand tons in Chile and 1 million 400 thousand tons in Peru.
Only Brazil and Argentina have a trade surplus of 3 million 500 thousand tons and 145 thousand tons, respectively.
In 2017, the production of crude steel in Latin America was 63 million 900 thousand tons, up 7% from the previous year. Among them, the largest production in Brazil was 34 million 400 thousand tons, an increase of 10%.
The output of steel products in the region was 52 million 900 thousand tons, up 4% from the previous year. Among them, the output of Brazil is 22 million 400 thousand tons, and the output of Mexico is 18 million 700 thousand tons.
In 2017, the consumption of steel in Latin America increased from 58 million 700 thousand tons to 67 million 300 thousand tons in the previous year. Among them, Mexico consumption increased by 970 thousand tons, an increase of 4%; Brazil increased by 961 thousand tons, an increase of 5%; Argentina increased 754 thousand tons, an increase of 18%; Peru increased 385 thousand tons, an increase of 13%.
The consumption of Venezuela, Panama and Bolivia fell by 22%, 17% and 15% respectively.
The latest statistics show that the production of crude steel in Latin America was 5 million 400 thousand tons in January, up 4% from the same period.