Alacero foresees Latin American steel demand to be weaker in 2022
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Update time : 2022-09-13 19:41:38
According to data from Alacero, Latin American Steel Association, Latin America's steel demand shall surpass 72 million tons in 2022, while the regional demand was 74.8 million tons in 2021. However, compared with the former prediction of 68.8 million tons, the updated number seemed to reflect a more positive attitude shown in the market, since people started to expect more GDP to be achieved.
In the first half year of 2022, the crude steel production of Latin America declined by 2.1% compared with the same period in the previous year. Most of the countries reduced their production, such as Chile (-14.1%), Peru (-10.1%), Brazil (-2.8%), Mexico (-1.2%), and Colombia (-0.6%), while Argentina (+4.1%) became the only country that realized a growth amongst all the main steel manufacturers.
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