Association: Latin America Buying More Chinese-Made Steel, Other Markets Buying Even More
09/01/2015 - Nearly 9 percent of China's steel exports have been destined for Latin America so far this year, according to Alacero, the Latin American Steel Association.
The association said that of the 56.4 million tons of finished steel exported by China, 5 million tons wound up in its 25 member countries during the period. The volume, it said, is up 6 percent from 4.7 million tons in the same period last year.
Despite the increase, Latin America, in terms of market share, has dropped one notch, becoming the third largest market for Chinese exports. It's now behind Vietnam, which received 5.3 million tons between January and July, and South Korea, which received 7.3 million tons during the same time.
Flat products accounted for most of the Chinese steel shipped to Latin America, growing to nearly 3 million tons. Long products,
mostly bar and wire rod, accounted for 1.8 million tons, the association said.
Despite the increase, Latin America, in terms of market share, has dropped one notch, becoming the third largest market for Chinese exports. It's now behind Vietnam, which received 5.3 million tons between January and July, and South Korea, which received 7.3 million tons during the same time.
Flat products accounted for most of the Chinese steel shipped to Latin America, growing to nearly 3 million tons. Long products,
mostly bar and wire rod, accounted for 1.8 million tons, the association said.
