Latin American steel demand to decline in 2022 – Alacero

The regional steel association Alacero expects a decline in steel demand in Latin America in 2022. SteelOrbis reports about it.

Demand for steel products in the region will reach more than 72 million tons in 2022 against 74.8 million tons in 2021 (-3.7% y/y). This forecast is more optimistic than the previous one of 68.8 million tons, and reflects increased expectations for GDP growth in Latin American countries.

In the first half of 2022, steel production in the region fell by 2.1% y/y. Reductions were recorded in countries such as Chile (-14.1%), Peru (-10.1%), Brazil (-2.8%), Mexico (-1.2%) and Colombia (-0.6%). At the same time, steel production in Argentina increased by 4.1% in the first six months of 2022.

Rolled steel production in Latin America fell by 1.4% in the first half of 2022. A decrease in indicators was recorded in Chile (-19.9%), Brazil (-2%), Argentina (-4.5%) and Colombia (-2.3%). In Mexico in January-June 2022, rolled steel production increased by 13.6% y/y, and in Peru – by 0.3% y/y.

As Alejandro Wagner, the executive director of Alacero noted, the international crisis caused by the Russian invasion of Ukraine turned out to be longer than expected. In this regard, the downward trend in steel consumption worldwide, including in Latin America, will continue until 2023.

As GMK Center reported earlier, Brazil increased steel exports to the European Union by 9.3 times in January-May 2022. In 5 months of 2022, Brazilian products accounts for 15% of the EU’s total steel imports.

  • Global Market

European gas prices in the second half of June stood at €40–42/MWh

In early June 2026, TTF futures for the following month fluctuated between €40 and €42…

Thursday June 25, 2026
  • Global Market

The EU’s requirement regarding the smelting and casting of steel will come into force in October

On 24 June, the European Union published a regulation on new safeguard measures concerning steel…

Wednesday June 24, 2026
  • Industry

Exports of flat steel from Ukraine fell to 695.1 thousand tonnes in January–May

In January–May 2026, Ukraine’s steel companies reduced their exports of flat-rolled steel by 3.1% compared…

Wednesday June 24, 2026
  • Global Market

Global pig iron production fell by 2.8% y/y in January–May

Global pig iron production for the period January–May 2026 fell by 2.8% compared with the…

Wednesday June 24, 2026
  • Global Market

SSAB Americas is launching a steel recycling project in the US

The steel company SSAB Americas, together with its partners The Greenbrier Companies and Alter Trading,…

Wednesday June 24, 2026
  • Global Market

British steel fabricators are calling for the new steel measures to be revised

The new quotas and import duties on steel introduced by the UK government to support…

Wednesday June 24, 2026