Between January and October 2014, China shipped 6.7 million tons of finished steel to Latin America, 54% more than the 4.4 million tons registered in the same period of 2013. Meanwhile, total exports of finished steel from China to the world continued to grow rapidly but at a slower pace. These exports reached 66.5 million tons, 47% more than in the same months of 2013. The volume of Chinese steel received by Latin America accounted for 11.5% of the regional consumption (estimated in 58.5 million tons).
Latin America is stablishing as the second destination for Chinese steel, expanding its participation from 9.7% to 10.1% from Jan/Oct 2013 to Jan/Oct 2014. South Korea, with a share of 15.7% and an imported volume of 10.4 million tons, ranks first among Chinese destinations.
In October 2014, Latin America received 671,943 tons of finished steel from China, 10% more than in September (610,787 tons) and 51% more than in October 2013 (445,919 tons).
Chinese finished steel imports by destination
The main Latin American destinations for the finished steel from China, between January and October 2014, were Brazil (received 1.6 million tons, 24% of the regional inflow), Chile (1 million tons, 15% share) and Central America (930,357 tons, 14% share).
In these ten months, the most significant y-o-y increases for imports from China (in percentage points) were registered in Argentina (+139%), Paraguay (+132%), Mexico (+ 128%) and Colombia (+125%). Argentina and Paraguay, however, continue to display very low volumes. Mexico continues to show a steady increase of its finished steel imports from China. During the analyzed period, Mexico received 573,040 tons (9% of China´s shipments to the region) and currently ranks as the sixth regional destination.
Imports from China by products
Flat products represented 67% of the finished steel that arrived from China during Jan/Oct 2014, and reached 4.5 million tons.
> Sheet and coils of other alloy steel (1.7 million tons, 38% of the flat steel from China)
> Hot Galvanized (903,192 tons, 20%)
> Cold Rolled Coils (896,314 tons, 20%)
China exported to Latin America 1.8 million tons of long products, mainly concentrated in:
> Rod wire (869,938 tons, 54% of long products imports)
> Bars (572,129 tons, 36%)
Source: Alacero (Latin American Steel Association)