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[Ferro-Alloys.com] Apparent use of finished steel in Latin America and the Caribbean reached 16.4 million tonnes during the Q1 of 2014, an increase of 1% YoY.

In January to March 2014, the higher increases in finished steel use were registered in Colombia (+18%), Mexico (+5%) and Brazil (+2%). On the other hand, Venezuelan, Chilean and Peruvian consumption dropped -36%, -12% and -7% respectively versus Q1 of 2013. In Argentina, apparent use of finished steel remained stable YoY.

Trade Balance;
Regional trade deficit in the finished steel market reached 2.8 million tonnes during the Q1 of 2014, in line with same period of 2013. Between January and March 2014, every Latin American country except for Argentina, Brazil and the Dominican Republic displayed trade deficits in their finished steel markets. Mexico showed the most marked unbalance of 795,431 tonnes followed by Colombia (-526,645 tons) and Peru (-355,700 tonnes).

Production;
During Q1 2014, regional production of crude steel reached 16.8 million tonnes, 2% more YoY. Brazil was the main producer with 8.4 million tones and 52% of the regional output. Countries that contributed to regional growth were:Argentina (+13%), Mexico (+6%) and Peru (+4%). On the other hand, Venezuela, Chile and Colombia dropped -32%, -13% and -2% respectively.

Finished steel production between January and March 2014 reached 13.7 million tonnes, growing 1% versus the same period of 2013. Brazil was the main producer with 6.3 million tonnes, accounting for 46% of the Latin American production. Mexico, the second largest producer, reached 4.1 million tonnes and 30% of the regional market. Also, Mexican production grew 5% YoY.

Other countries that increased YoY their finished steel production during the first 4 months of 2014 were:Colombia (+20%), Peru (+4%) and Argentina (+3%). Meanwhile, Venezuelan and Chilean outputs dropped-31% and -26%, respectively. In April 2014, Latin American crude steel production reached 5.3 million tonnes, a 1% drop YoY. Finished steeloutput reached 4.7 million tonnes, 1% less than April 2013. Between January to April 2014, cumulated finished steel production reached 18.4 million tonnes, in line with January to April 2013.

• [Editor:Yueleilei]