ALACERO: Latin American steel production falls by 34% in Apr while it rises by 0.2% in China
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Update time : 2020-06-15 20:18:33
According to data from the Latin American Steel Association (ALACERO), during this April and May, seven blast furnaces in Latin America, equivalent to the production of seven million tons of steel, have been stopped to deal with the economic crisis due to the novel coronavirus.
In April, the region's production reached 3.55 million tons, a drop of 34% compared to the same month last year; so far this year there has been a year-on-year decrease of 14%. On the other hand, the global production in April fall by 13.5%, but that of China rose by 0.2% this month.
For this reason, Francisco Leal, CEO of ALACERO, expressed his concern about pressure from China, given that China began its recovery and sought to place its steel through exportation, generating further damage to the steel industry of Latin America, and delaying or limiting the recovery of the region.
