Production of Latin American crude steel fell slightly in May this year. Regional production was 5.2 million tonnes, a slight percentage decrease from May 2018, according to a review of the latest trade statistics released by ALACERO - Latin American Steel Association.
Latin America's total crude steel production was 25.9 million tonnes in the first five months of the year, down 5 percent from the corresponding five-month period in 2018. The total volume of steel produced in the region in January-May 2018 amounted to 27.1 million tons.
Brazil was the largest steel producer in the region during the first five months of 2019 with production of 14.0 million tonnes, representing 54 percent of total regional production. In second place is Mexico, which produced 8.1 million tonnes, or 31 percent of the region's total production. The country accounted for 49 percent of the negative cumulative balance of crude steel production.
According to ALACERO, the economic performance of various Latin American countries, including Brazil, continued to be weak during the first five months of 2019. The economies of Chile and Mexico are experiencing a slowdown in growth. Argentina's economy continued to decline, while Colombia's economic performance gradually improved.
