STEEL PRODUCTION IN LATIN AMERICA MAY SUFFER FROM CHINESE IMPORTS
In January-September 2012, imports of finished steel products from China to Latin America was 3.2 million tons (9% share). These data are published by the Association of Latin American steelmakers Alacero.
Thus, the Latin American region has become the second most important for the Chinese steel after South Korea, where it was delivered to 7.5 million tonnes (21% share). At the same time, the EU has dropped to third place with 2.3 million tonnes (7% share).
Alacero notes that despite the 3.2% drop supplies South Korean exports to Latin America jumped by 18.7%.
Overall, in the first 9 months of 2012 the largest importers of Chinese steel products from the Latin American region were Brazil (649.8 million tons), Chile (576.6 thousand tons) and Peru (491.5 thousand tons). These countries accounted for 54% of total Chinese imports.
Chile and Peru in January-September showed significant growth of imported products at a rate of 69% and 62%, respectively. However, the highest rates were reported in Mexico, which increased its imports from 133 to 293.9 thousand tons
Moreover, in some countries of China imported products covered over 20% of the visible steel consumption. For example, in Venezuela - 32% in Chile - 25%, in Peru - 24%, in Ecuador - 20%.
