The metallurgical activity fell by 17.3% in June year-on-year and 1.9% compared to May, without showing signs of recovery, according to data from the Department of Economic Studies of the Association of Metallurgical Industrialists of the Argentine Republic (ADIMRA).
Thus, during the first half of 2024, production decreased -16.7% compared to the first half of 2023. If the comparison is with December of last year, the decrease is 11.2%.
Meanwhile, the use of the installed capacity It has also registered a sharp decline, standing at -12.2 percentage points below the same month of the previous year and -11.2 percentage points below the 2023 average.
The work indicates that within the metallurgical industry, a new trend is observed systemic decline in all subsectors that make up this industrial framework, with declines ranging from -10% to 25%.
As for the employment level, there is a year-on-year decrease of -2.8%. Compared to May, employment fell by -0.1%, registering another slight deceleration compared to previous months.
Metallurgical industry: what was the performance in each sector?
Supplier companies in the value chains of the construction, final consumption and automotive They are the ones that have shown the worst relative performance, with falls of up to -30%.
On the other hand, those that provide the oil, gas and mining sectors They have shown the best relative performances, but failed to grow compared to the previous year.
The sector that has fallen the least during this month has once again been Farm Equipment, with some companies that have begun to grow after the very low production levels recorded the previous year due to the drought.
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However, it continues to experience very strong declines and has not grown year-on-year for over a year. On the other hand, the sector that has fallen the most during the month of June has been Foundry, followed by Other Metal Products and Electrical Equipment and Appliances.
Source: Ambito
