He metallurgical sector in August recorded a year-on-year drop of 10.2%while it remained unchanged compared to July, according to a report by the Association of Metallurgical Industrialists of the Argentine Republic (ADIMRA).
“It’s the pThe highest monthly record since the end of the pandemic“, the entity stated.
In this way, since January, Metallurgy accumulates a contraction of -15.1% compared to the same months of the previous year, while compared to December 2023, the drop is -7.7%.
The report prepared by the Department of Economic Studies of the Association of Metallurgical Industrialists of the Argentine Republic (ADIMRA), indicates that The use of installed capacity is 48% and also registered a decrease, standing at -7.8 percentage points below the same month of the previous year and -10.5% below the 2023 average.
Regarding industrial activity, comparing the month of August against that of July 2024, Production tends to plateau as it has not registered any variations.
Metalworkers: how was the performance sector by sector?
In the analysis towards the interior of the metallurgical industry, we can observe, again, a fall in all the subsectors that make up this industrial framework, except for Bodies and Trailers. These decreases range from -4% to -15%.
Supplier companies in the construction value chains, Final consumption and automotive are the ones that have shown the worst relative performances, with falls of up to -14%.
On the other hand, those that supply the oil, gas and mining sectors continue to demonstrate the best relative performances.but they failed to grow compared to the previous year.
The Foundry (-15.5%), Auto Parts (-13.8%) and Electrical Equipment (-13.1%) sectors were among the most affected during the current month, while Bodywork and Trailer (+4.2%) was one of the sectors that registered an increase during the month.
ADIMRA President Elio Del Re said: “Metallurgical activity remains at levels below the historical average, with a trend of ups and downs that generates uncertainty. Although we cannot yet speak of a rebound, we are monitoring the situation closely to assess the outlook, aware that the road to recovery could be slow and challenging.”
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Metalworkers: what is the situation in the provinces?
Regarding the Situation of the main metallurgical provinces Once again, there are widespread year-on-year declines in all regions, although a slowdown is observed compared to previous months.
In Santa Fe (-11.1%), agricultural machinery has grown compared to last year and positively influenced the general average. However, the province fell above the metallurgical average as did Córdoba (-13.1).
Mendoza (-7.8%), Entre Ríos (-5.1%) and Buenos Aires (-9.2%), on the other hand, registered variations below the average and slight slowdowns in the fall compared to previous months.
Source: Ambito
