Latin America's steel demand may descend in 2022
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Update time : 2022-07-20 19:11:45
An industry report showed that Latin America's steel industry is now facing regional inflation, political instability as well as the rising price caused by the war between Russia and Ukraine, and those factors may beget a slight decline (about 2%, according to Alacero) of steel demand in the local market in 2022.
As Alacero pointed out, after lifting the restrictions which were set in 2020 due to COVID-19, in 2021 Latin America's steel output clearly bounced and surpassed the previous level.
Meanwhile, the association also predicted that in 2023, the market demand may possibly refresh and grow by 4%. However, industry specialists in the same region believed there are still enough loose ends due to the political indetermination.
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