China’s resuming steel output may pressure Latin America’s steel market
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Update time : 2020-05-20 09:37:17
According to the announcement from Alacero, the Latin American Steel Association, the easing situation of the epidemic in China might further stimulate Chinese steel mills to resume their production, which also meant the imports of steel products from China would further increase, which would pressure the current weak steel market in Latin America.
In Mexico, the gross domestic product (GDP) in the first quarter had decreased by 2.4% year on year, mainly caused by the epidemic of COVID-19.
Currently, many steel mills had not resumed yet in Latin America, and its crude steel output also dropped by 8% year on year in the first quarter this year.
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