July saw a repeat of the trend seen in previous months, with steel production falling and imports rising to record levels.
Steel production is currently facing a difficult period. In July, crude steel production stood at 4.6 Mt, down 4.6% year-on-year and accumulating a 2.0% decline so far this year. Rolled steel production totaled 4.2 Mt, down 5.8% compared to the same period last year and down 2.0% year-to-date in 2025.
Apparent consumption showed an increase of 2.6%, accumulating 3.7% in the months of 2025.
Imports of rolled products reached historic highs with an increase of 9.2% in July, equivalent to 2.8 Mt. Although Mexico recorded a decline, Argentina and Brazil saw notable increases compared to the same period in 2024.
In contrast, exports were at their lowest level for that month since 2011. During July, LATAM exported 0.5 Mt of rolled products, suffering a year-on-year decline of -6.8%.
Thus, the trade balance recorded a deficit of 2.3 Mt, marking the largest deficit for a month of July in the entire historical series.
The sectors demanding steel showed heterogeneity for this month. Construction activity performed well, as did machinery in the industrial sector. However, domestic use and automotive showed negative balances.