The crude steel production reached 458,500 tons (tn) in September, which meant a drop of 7% year-on-year and an increase of 2.5% compared to September, According to a report prepared by Argentine Steelthe chamber that brings together the main companies in the sector.
The report also noted that during the tenth month of the year, Primary iron production was 338,100 tons, 10.5% higher than September (306,000 tons) and 23.1% higher than October 2022 (274,800 tons).
In crude steel, production was 458,500 tons, being 2.5% higher in the month-on-month comparison (447,300 tons) and 7% lower compared to October 2022 (493,000 tons).
Meanwhile, the total laminate production hot finished was 406,500 tons, a month-on-month increase of 4.7% but 2.2% lower in the year-on-year comparison (415,800 tons).
Lastly, that of cold rolled plans it was of 108,900 tons, resulting in 7.2% less than that of September 2023 (117,300 tons) and 5.5% less than that of October 2022 (115,200 tons).
The construction sector continues to show signs of weakening
When analyzing the progress of the economy and the impact on the steel industry, the business entity pointed out that the construction sector continues to show signs of weakening. “Cement shipments showed a slight rebound of 1% during October. Compared to the same month of the previous year, a decrease of 0.2% was observed and the accumulated annual figure fell by 1.6%,” they pointed out from the Chamber.
Meanwhile, the automotive sector recorded a production drop of 8.5% compared to September and a decrease of 0.9% compared to the same month last year. Comparing 10 months of 2023 with respect to 2022, an increase of 15.9% was recorded.
For its part, the agricultural machinery and implements category continues “continues without changes, although with good expectations for the gross harvest.”
In another order, the entity stated that “access to the foreign exchange market (MULC) for the import of raw materials not produced in the country continues to be practically closed, as well as for the import of semi-finished products and inputs and spare parts necessary in the production cycle.” .
Source: Ambito
