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Latin American Producers Caution on Potential Import Problems
05/14/2020 - Alacero, the Latin American Steel Association, is warning of a potential flood of Chinese-made steel as that country ramps its economy back up while others slog through the COVID-19 pandemic.
According to the association, industrial activity in Mexico, Brazil, Argentina and other countries has declined, driving a projected 13.8% decline in apparent steel consumption.
"Parallel to this scenario, we see a rapid recovery in the Chinese steel industry and the continued risk it presents due to its overcapacity, where in the face of the sharp drop in world markets it will continue seeking to export its production to Latin America, which could make the recovery of the region even more difficult,” said Francisco Leal, CEO of Alacero.
