Import pressure in the Latin American steel sector remained high in February 2026

Импортное давление в сталелитейном секторе Латинской Америки оставалось высоким в феврале 2026 года

The Latin American steel sector maintained a downward trend in February, while import pressure remained high in the region. In February, purchases in foreign markets accounted for 41 percent of regional visible consumption. During the same period, steel production totaled 4.42 million tons, down 3.3 percent from last year, while finished steel production increased 3.7 percent year-on-year to 4.07 million tons.

In the first two months of the year, steel production in the region was recorded at 9.07 million tons, which is 3 percent less than last year, while steel output decreased by 1.3 percent year-on-year to 8.20 million tons. By product, in February, the production of long steel increased by 2.3 percent year-on-year to 2.11 million tons, and the production of flat rolled products increased by 7 percent to 1.89 million tons, while the production of seamless pipes decreased by 26.4 percent to 71,000 tons. Steel production increased by 3.3 percent year-on-year to 1.23 million tons. Crude steel production in Argentina and Colombia decreased by 14 percent and 1.9 percent, respectively. In terms of steel production, Mexico and Colombia showed growth, while Brazil and Argentina recorded declines.

The apparent consumption of steel products in the region increased by 4.2 percent year-on-year to 6.01 million tons in February. In January-February, apparent consumption increased by 0.4 percent year-on-year to 12.18 million tons. In February, visible consumption increased in Brazil, Mexico and Colombia, while in Argentina it fell 6.4 percent year-on-year to 196,000 tons.

Steel imports to Latin America totaled 2.46 million tons in February, up 7.8 percent from last year. The region's imports in January-February increased by 3.1 percent year-on-year to 5.02 million tons. In the first two months, imports increased in Brazil and Colombia, while decreases were recorded in Mexico and Argentina.

The region's exports totaled 524,000 tons in February, down 18.1 percent from last year, while in January-February they totaled 1.09 million tons, down 10.9 percent year-on-year. Although Brazil's exports declined in February, they increased by 13.8 percent year-on-year in the first two months. Colombia's exports rose 5.7 percent year-on-year in February, while significant declines were seen in Argentina and Mexico.

As a result of increased imports and weaker exports, the region's trade balance registered a deficit of 1.94 million tons in February. In the period from January to February, the total trade deficit reached 3.93 million tons.