Chinese steel imports to Latin America rise 54 percent

According to statistics from the Latin American Steel Association (ALACERO), imports of steel products from China increased significantly during the first eight months of 2014.

Steel imports to Latin America from China totaled 5.4 million tonnes between January and August this year, up 54 percent from imports in the corresponding period last year. Imports of flat steel to Latin America totaled 3.7 million tonnes, accounting for 67 percent of total steel imports from China. During this period last year, imports of flat products to the region from China totaled 3,510,000 tons.
Among Latin American countries, Brazil remained the largest importer of Chinese steel throughout the entire period. Brazil's imports accounted for 25 percent of the region's total imports. In second place is Chile with an import share of about 15 percent, while Central America had a 14 percent share of total imports.

According to the ALACERO report, the countries that reported the largest increases in steel imports from China in eight months were Paraguay (+ 182 percent), Mexico (+ 144 percent), Argentina (+ 114 percent) and Colombia (+ 101 percent).

Chinese imports accounted for nearly 12 percent of total steel consumption in the Latin American region for eight months. ALACERO also notes that the significant increase in imports from Asian countries is hurting domestic producers in the region.