Steel output on growth track in Latin America

Worldsteel figures show Argentina as leader in output growth.


Most Latin American nations have reported growth in steel produced through the first 11 months of 2018, according to the Brussels-based World Steel Association (Worldsteel). While many nations have reported modest growth, Argentina can claim a 13.2 percent output increase.

Through November 2018, the Argentine steel industry has produced more than 4.8 million metric tons of steel, up by 13.2 percent compared to the 4.24 million metric tons of output in the first 11 months of 2017.

The nation’s increased output stands in contrast to the more modest industry growth experienced in most other Latin American nations in 2018. In Brazil, the region’s largest steel producer, output has risen by 1.8 percent year-on-year.

Mills in Mexico, the region’s second largest steel producer, had churned out 18.54 million metric tons of steel through the first 11 months of 2018, up 1.3 percent compared to the 18.3 million metric tons in the comparable period of 2017.

Among the smaller producers, Ecuador’s output is up by 3.2 percent and Peru’s has risen by 1.7 percent while both Chile and Colombia have reported output decreases (Chile by 0.9 percent and Colombia by 1.7 percent). In troubled Venezuela, output has shrunk by 69.3 percent in the first 11 months of 2018 compared to the previous year.

Globally, world crude steel production for the 64 countries reporting to Worldsteel was 148.6 million metric tons in November 2018, a 5.8 percent increase compared with November 2017.

The United States produced 7.4 million metric tons of crude steel in November 2018, an increase of 11.8 percent compared to the same month in 2017.

China’s percentage increase was slightly smaller at 10.8 percent, but the country remains by far the world’s leading producer at 77.6 million metric tons.

Turkey’s crude steel production for November 2018 was 3.1 million metric tons, 2.1 percent less than in November 2017, and steel output in the Ukraine was 1.7 million metric tons, 11.2 percent less than it made in November 2017.