Latin American Steel imports from China plunge during H1

Latin America imported 4.1 million mt of Chinese steel in January-July, down 27% from the same period of 2015, according to regional steel industry association Alacero.

Total Chinese steel exports during that period increased 9 percent to 65.9 million mt, noting that Latin America took in 6.2% of those exports. This was down from a 9.3% share in the same period last year.

The Latin American countries and regions importing the most from China were Central America (1 million mt, up 19%), Chile (682,000 mt, down 15%) and Peru (548,000 mt, down 4%). The largest percentage drops in imports came in Argentina (down 70%), Brazil (down 61%), Mexico (down 60%), Venezuela (down 47%) and Ecuador (down 46%), it said.

China's main export destinations were South Korea importing 8.5 million mt, Vietnam 7.3 million mt and Thailand 4.2 million mt. In July alone, Latin America received 739,000 mt of Chinese steel, of which 659,000 mt was finished steel and 80,000 mt was steel-derivatives products. This was 17% higher than the 635,000 mt imported in June.