Latin America imported 2.4 million mt of finished steel products from China in the first quarter, 29% more than the same period last year, Latin American Steel Association (Alacero) said Wednesday.
The volume imported was valued at $1.49 billion -- or an average of $621.7/mt, the association said, attributing the value to Chinese customs data. This average price is 4% above the average price, $597/mt, of Chinese steel products exported worldwide excluding Latin America.
Central America saw an average price of $501/mt, and Peru received Chinese steel products at $535/mt average.
Out of the total, flat products represented 59% (1.4 million mt) of the region's imports from China. Longs were 36% and seamless tubes the remaining 5%.
"The phenomenon of lowering prices for exports of rolled steel is part of China's strategy to generate increased exports in order to keep their plants running and prevent unemployment. Financial considerations, or thin or non-existent profits go to the second place, as the steel industry in China is made up of state-owned enterprises that have broad political support and subsidies," said Alacero.
"[Around] 60% of antidumping measures on steel products (under analysis or in effect) that began in Latin American countries is targeting China. These measures -- petitioned by the private sector -- are necessary but only palliative. A definitive solution to the unfair trade in the region requires immediate action and long-range by national governments," the association concluded.
Source: Platts
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.