SPOKANE (Scrap Monster): The latest trade statistics released by the Latin American Steel Association (Alacero) indicates that imports of Chinese steel by the region totaled 1.3 million tons (Mt) during the first two months in 2017.
As per data, China exported 12.8 million tons of finished steel and steel-derivative products to the entire world during the first two months of the current year. Out of this 1.3 million tons were shipped to Latin American countries. Imports of finished steel products totaled 1.2 million tons, whereas steel-derivatives products accounted for 108,000 tons. The total imports of Chinese steel by the region surged higher by 5% when matched with the first two months in 2016. The region’s imports had comprised of 1.1 million tons of finished steel products and 143,000 tons of steel-derivatives products during Jan-Feb ‘16.
The region’s share of Chinese steel exports reached 9.9% during the first bimester of 2017, significantly higher when compared with 6.9% share in Jan-Feb ‘16. The region emerged as the third preferred destination of Chinese steel exports. South Korea with 17% share of total Chinese exports was the largest importer. The imports by the country totaled 2.2 million mt. The second largest destination of Chinese exports was Vietnam. The country’s imports of Chinese steel totaled 1.7 million tons in Jan-Feb ’17, representing 14% share of the total global exports by China.
The Chinese steel export volume totaled 12.8 million tons during Jan-Feb ‘17. Out of this, finished steel exports totaled 12.0 million tons and the balance 829,000 tons accounted for steel-derivatives products. The steel exports by the country were down sharply by 27% when matched with the previous year. The Chinese monthly steel exports had totaled 17.53 million tons during the initial two-month period in 2016.
Chile received 248,000 tonnes of Chinese steel during Jan-Feb ‘17, accounting for 20% of the regional import. The other key importers were Central America (235,000 tonnes, 19% share), followed by Peru (194,000 tonnes, 15% share). Argentina recorded highest increase in imports over the previous year. The imports by the country surged higher by 228%. The other countries to report rise in imports of Chinese steel were Ecuador (+97%), Dominican Republic (+38%), Chile (+30%) and Peru (+28%). On the other hand, Venezuela’s imports plunged sharply by 52% over the previous year. The imports by Mexico and Paraguay too declined considerably by 46% and 32% respectively.
Flat products accounted for 66% of the total imports of finished steel and steel-derivative products from China. The Latin American imports of flat products totaled 831,000 tonnes during the first bimester of the current year. The major flat steel products imported during the period were other alloyed steel sheets and coils (293,000 tonnes, 35% share), hot-dipped galvanized sheet (176,000 tonnes, 21% share), and cold rolled coil (127,000 tonnes, 15% share).
Long steel imports totaled 290,000 tonnes in Jan-Feb ’17. The key long steel product imported by the region from China was wire rods. The imports of wire rods totaled 134,000 tonnes, accounting for 46% of the total long steel imports by the region. The imports of bars totaled 118,000 tonnes with 41% long steel market share. The region imported 36,000 tonnes of seamless pipes during the month.