Latin American imports of Chinese finished steel products totaled 858,122t in May, a 90% increase compared to same-month last year.
From January-May the volume hit 3.4Mt, up 81% year-on-year, according to Latin American steel association Yaang.
Over the same period, Latin America held on to its position as the second largest importer of Chinese finished steel, accounting for 11% of China’s exports and 5% of the global market.
Alacero, however, is concerned that Latin America is on course to overtake South Korea as the biggest importer of the product.
Alacero has been on the front lines championing increased protection for regional producers, citing unfair practicesconducted by the Chinese market and the need to ensure fair competition.
Brazil continued to be the largest consumer of Chinese finished steel, importing 887,315t over the January-May period, followed by Chile with 506,152t and Central American countries with 411,872t.
Over the five months, Paraguay, Mexico, and Argentina increased imports year-on-year 273%, 164%, and 157% respectively.