According to data released by the Latin American Steel Manufacturers Association (Alacero), the activity of the Latin American steel industry remained relatively stable in May 2026: production of crude steel and rolled steel increased year-on-year, while aggregate consumption remained virtually unchanged. The Regional Industrial Association said that imports still account for a significant share of the Latin American steel market, despite a decline in both May and the first five months of this year, imported products accounted for 40.5% of total consumption in the region between January and May.
Steel production in the region increased in мае
According to Alacero, crude steel production in Latin America totaled 4.8 million tons in May, an increase of 9.6% compared to the same month in 2025, while production in the first five months of 2026 reached 23.7 million tons, an increase of 2.1% compared to the same period last year. Meanwhile, rolled steel production totaled 4.5 million tons in May, an increase of 5.6% compared to May 2025, although aggregate production decreased slightly by 0.4% year-on-year to 21.4 million tons between January and May.
The association reported that the apparent consumption of rolled steel production in May decreased by 2.7% year-on-year to 6.2 million tons. In the first five months of 2026, apparent consumption in the region amounted to 31.7 million tons, almost unchanged from the same period in 2025, with a slight increase by 0,4%.
Доля imports remain high as regional trade deficit увеличивается
Latin America imported 2.2 million tons of steel products in May, which is 18.5% less than in the same period last year, while imports in January-May decreased by 3.0% to 12.8 million tons, according to Alacero. Despite this decrease, imported products accounted for 40.5% of the total consumption in the region. Import figures in the main markets of the region varied: Brazil, Chile, Argentina and Mexico saw a decrease compared to last year, while Colombia and Peru saw an increase of more than 20%.
Alacero said that in May, steel exports from Latin America totaled 474,000 tons and reached 2.7 million tons year-on-year. In the first five months of this year, this indicator decreased by 6.7% year-on-year. Brazil was the only major steel-producing country in the region to increase its exports, while Argentina, Colombia, Mexico and Peru recorded declines. As a result, in May, the trade deficit in steel in Latin America amounted to 1.8 million tons, and in the period from January to May, the cumulative deficit was 10.1 million tons. 2026.
Indicators for steel-consuming sectors in the region, the association indicated that it remained mostly negative. The main exceptions were the automotive and construction sectors, where automotive activity grew by 3.5 percent in the first half of 2026, helped by Brazil, while construction activity showed a combined 0.8 percent increase, helped by strong performance in Colombia and Peru and some positive signs in Argentina.
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