South American steel production fell 15 percent in January

South America's monthly crude steel production continued to decline throughout January 2016. South American steel production fell sharply during the first month of this year, according to the latest figures released by the World Steel Association. Total monthly production fell 14.6 percent to 3.251 million tonnes.

Argentina's total crude steel production in January was 350,000 tonnes, down 9.3 percent from 386,000 tonnes in January 2015. Brazil produced 2.451 million tonnes of steel, down 17.9 percent from 2.985 million tonnes in January last year. Chile's steel production in January this year rebounded modestly by 2.2 percent to 100,000 tons in January, up from 98,000 tons in January 2015. Colombia's total crude steel production this year is up nearly 8.8 percent to 80,000 tons in January.

Ecuador's steel production rose 9.2 percent year over year. Ecuador's steel production was 50,000 tonnes in January this year, up from 46,000 tonnes in January last year. Paraguay's steel production rose 354.5 percent to nearly 5,000 tons in January 2016, up from just over 1,000 tons in January last year.

Peru's steel production increased 21.6 percent year on year. Venezuelan production plunged 23.8 percent year on year from 131,000 tons to 100,000 tons. Uruguay has dramatically increased its output this year from nearly 1,000 tons in January last year to 9,000 tons in January 2016.