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Latin America steel imports from China grow 65pct during 1 semester of the year

During the 1st semester of 2014, China exported 4 million tonnes of finished steel to the region, 65% more than the 2.4 million tonnes registered during the same period of 2013. During the semester, Latin America was the second destination of Chinese exports, only surpassed by South Korea.

Highlights;
1. China exported 4 million tonnes of steel to Latin America during 1 semestrer 2014.
2. Latin America is the 2nd destination of Chinese steel exports; after South Korea.
3. Brazil, Mexico and Chile are the main destinations.
4. Flat products represent 67% of the imports from China to Latin America (2.7 million tonnes)

Chinese finished steel exports to the world reached 36.9 million tonnes in January to June 2014, 39% more YoY. The flow of Chinese steel to the world continues to grow steadily, a trend that gets even more marked for the case of Latin America.

Latin America accounts for 5% of the world’s finished steel consumption. However, the region currently represents 11% of the Chinese exports of such products and its share grew 2 percentage points (from 9%) during the last year.

South Korea, with 622,874 tonnes continued to be the main destination during the 1st semester of 2014. Nevertheless, the gap between this country and Latin America is decreasing. While South Korea represented 18% of the Chinese exports during the 1st semester of 2013, it dropped to 17% this year. If this trend continued, Latin America could get to the first position among the destinations for Chinese finished steel.

During last June, Latin America imported 647,080 tonnes of finished steel from China, 25% less than the volume registered the previous month (858,122 tons), but 4% more than June 2013 (569,427 tonnes).

The main destinations for Chinese finished steel in the region, between January to Junne 2014 were: Brazil that received 1.1 million tonnes; Chile, 614,698 tonnes and Central America, 506,213 tonnes.

The countries that increased their finished steel imports from China the most, were: Paraguay (+242%), Mexico (+155%), Colombia (+121%), Argentina (+120%) and Brazil (+84%).

Source – Strategic Research Institute

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