The production of crude and rolled steel in Latin America during the month of February continues its downward trend. Consumption shows an improvement, although it is not homogeneous among the different types of products, highlighting the flat segment, which sustains an increase in demand. In relation to the trade balance, the deficit balance during January deepened, as a result of the growth in imports.
During February 2025, steel production in Latin America continues to decline. Compared to the same period, there was a difference of 0.4 million tons (Mt).
Crude steel production reached 4.6 Mt in February 2025, marking a year-on-year decline of – 3.5% – the fifth consecutive contraction – and accumulating a decline of -3.2% in the first two months of the year.
Rolled steel production amounted to 4.0 Mt, with a drop of -5.4% compared to the same period of the previous year, and -4.9% in the annual accumulated. Following the January trend, the most significant decreases were observed in seamless (-12.4% YoY), flat (-8.5% YoY) and long tubes (-2.0% YoY). Although Brazil had a positive balance, it could not offset the negative values of Argentina and Mexico.
During the first month of the year, apparent consumption of rolled products reached 6.3 Mt, registering an expansion of 3.9% compared to January 2024. The highest consumption was observed in flat and long products, while seamless pipes showed a negative balance. Although Mexico and Argentina continue to decline, Brazil´s positive results helped the regional balance.
The trade balance, during the first month of 2025, showed a negative balance of 1.9 Mt.
Although it shows a slight improvement compared to previous months, it was the highest trade deficit in the last 15 years for a January month. Among the causes, there was an increase of 16.2% in imports.
In relation to the value chain, the steel demand sectors maintain disparity. Construction activity shows the first positive rate in six months and moderate growth is registered in machinery and automotive production.
