Latin America steel exports plummet

Steel exports from Mexico and Latin America to the United States plummeted in August.

Shipments from Mexico and the South/Central American region totaled 276,647 metric tons compared with 1.2 million in July and 924,113 in August 2018, according to data from the U.S. Census Bureau.

Exports in August were valued at $236 million compared with $700 million in August 2018.

Exports from Brazil fell the sharpest. The country shipped 15,311 metric tons of steel to the U.S. in August compared with 910,976 in July and 607,508 in August 2018.

The decline in exports from Brazil is because of quotas on Brazilian steel, which were imposed in place of the 25 percent tariff applied to most U.S. steel imports, according to an online report by BNamericas.

Mexico's shipments also fell to 235,969 metric tons in August, down from 302,696 in July.

The decline in exports to the U.S. reflects the challenges faced by the steel sector, according to the report. Quotas and the global market have affected key steelmakers, including ArcelorMittal and Ternium, Luxembourg.