The Latin American Iron and Steel Association (Alacero) recently estimated that Latin America's steel imports this year will reach 23.5 million tons, down 6.5% year-on-year; crude steel production will reach 66.3 million tons, up 3%.

Alacero expects that in 2018, demand for apparent steel in Latin America will increase by 1.3% to 68.5 million tons, of which finished steel consumption is 55.9 million tons, up 5.6% year-on-year. Imports accounted for about 34% of consumption.

By country, Alacero expects Argentina's crude steel output to increase by 18% year-on-year in 2018, and crude steel production in Mexico, Ecuador and Uruguay will increase by 4% year-on-year. Venezuela's crude steel output will decrease by 61% year-on-year. Chile It will decrease by 8% year-on- According to the World Steel Association, in the first nine months of this year, crude steel production in South America was 33.168 million tons, an increase of 2.5%. Among them, Argentina increased by 16.1% year on year, Brazil increased by 2.5% year on year, Ecuador increased by 3.8% year on year, Peru increased by 2.5% year on year, Uruguay increased by 2.9% year on year, Venezuela decreased by 65.5% year on year, Colombia decreased by 12.8% year on year, and Paraguay decreased by 8.1% year on year. Chile decreased by 4.8% year-on-year.

Alacero also said that despite the political instability and financial crisis in some countries in the region, as well as the US trade tariffs and other factors, the overall situation of the Latin American steel industry in 2018 is still good.