Latin American crude steel output up in October after six monthly falls

Crude steel output in Latin America increased year-on-year in October following six consecutive monthly decreases, according to figures disclosed by the region’s steel association, Alacero.

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Production reached 5.95 million tonnes in October, up by 6% from the corresponding month in 2011, the figures showed.

This is the second-largest monthly volume this year, just below March’s output of 5.96 million tonnes.

Brazil reported an 8% increase in October, to 3.15 million tonnes.

Mexico came next with 1.63 million tonnes, up by 6% year-on-year.

But Argentina, Latin America’s third-largest steel producer, registered an 18% fall in output, to 414,000 tonnes.

Overall, the October increase helped the region to diminish the accumulated production fall in 2012.

Between January and September, production was down by 4% from the same period of 2011.

The accumulated output is now 3% lower than in 2011, at 55.6 million tonnes, Alacero noted.