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The region produced 3.67 million tonnes of crude steel last month, up from 3.63 million tonnes in January 2013.
Brazil was the largest producer, with 2.74 million tonnes.
However, this volume was down by 1.4% compared with the 2.78 million tonnes produced in the corresponding month in 2013.
Argentina ranked second, with a crude steel output of 397,000 tonnes, up by 24.1% year-on-year.
Venezuela showed the biggest decline in production, with 110,000 tonnes in January, down by 37% compared with the 175,000 tonnes produced in the corresponding month a year earlier.
Meanwhile, crude steel production in Mexico reached 1.55 million tonnes, a decline of 0.1% year-on-year, Worldsteel data showed.
South America’s crude steel production grew by 0.9% year-on-year in January 2014, according to figures released by the World Steel Assn (Worldsteel) on Thursday February 20.