Analysis
November 21, 2024
Latin America's steel industry grapples with declining demand, rising imports
Written by Laura Miller
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
The São Paulo-based steel trade association said apparent consumption in the region grew 6.4% year over year (y/y) to 73.7 million metric tons (mt) in 2023. But this year, consumption will fall back by 2.7% to 71.8 million mt, according to its “Latin America in figures” report for 2024.
