ALACERO Announces Unprecedented Growth in Imports of Steel Products from China

The Latin American Association of Steel Producers (ALACERO), says China supplied 56 percent more steel products in 2014 than in 2013. In the period from January to November 2014, China supplied 7.4 million tonnes of finished steel to Latin America, and 4.8 million tonnes in the previous year.

Global exports of finished products from China reached 75.5 million tonnes, an annual growth rate of 53 percent, slower than the growth in the flow of products supplied to Latin America. Shipments to Latin America accounted for 9.9 percent of global Chinese finished steel exports. The region ranks second among the global destinations for Chinese steel products exports, second only to South Korea, which accounts for 15 percent of 11.5 million tonnes. The third largest importer of Chinese steel is Vietnam with 5.6 million tonnes and 7.5 percent.

Latin America received 729,000 tonnes of finished steel from China in November 2014, an 83 percent increase over November 2013. In Latin America in 2014, the main destinations for Chinese finished products were Brazil (1.8 million tonnes), Chile (1.1 million tonnes) and Central America (1 million tonnes).

During this period, growth in finished steel imports was most notable in Paraguay (+ 155 percent), Mexico (+ 154 percent), Colombia (+ 129 percent) and Argentina (+ 68 percent). ALACERO says Mexico will continue to increase its imports of finished steel products from China this 2015.