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Latin American steel consumption to reach 67.2 million mt in 2017: Alacero

Highlights

Latin American apparent steel consumption in 2017 is expected to grow to 67.2 million mt, an official with regional steel organization Alacero said Wednesday.

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The volume expected for next year is 3.6% above the 64.8 million mt Alacero estimates will be consumed in 2016, Alacero General Manager Rafael Rubio said during the group's annual steel congress in Rio de Janeiro.

"Expectations for 2017 are encouraging for the main markets in the region, [where] significant growths in consumption are expected. Mexico, Brazil, Argentina and Colombia project growth of 3.2%, 3.8%, 5.8% and 3.9%, respectively," Alacero said.

Alacero's growth scenario is driven by signs of recovery in the world economy, group President Jefferson de Paula said.

"The delicate economic situation Latin America is going through will have a positive spin. In Brazil, expectations are encouraging, supported by the political will to overcome the crisis," he concluded.

--Bruno Martins, bruno.martins@spglobal.com

--Edited by Derek Sands, derek.sands@spglobal.com