The metallurgical industry closed 2024 with a drop of 12.1% accumulated in one year

The metallurgical industry closed 2024 with a drop of 12.1% accumulated in one year

The metallurgical industry had a drop in activity of 12.1% in 2024 while last December it showed a drop of 3.1%. This is indicated by a report prepared by el Department of Economic Studies of the Association of Metallurgical Industrialists of the Argentine Republic (ADIMRA)

“The sector recorded, during December 2024, a drop in its production of -3.1% year-on-year. In this way, it accumulates a contraction of -12.1% in relation to the same months of the previous year,” says the entity.

The work indicates that “Regarding November 2024, metallurgical production increased 1% without seasonality” although it specifies that “the fall amounts to double (6.1%) in year-on-year terms and the monthly variation becomes negative if the Agricultural Machinery and Bodywork and Trailers sectors that continue to experience a recovery in their production levels are not considered.” .

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“The utilization of capacity installed is 52.5% and has also registered a decrease, placing it 2.2 percentage points below the same month of the previous year and 8.4 percentage points below the 2023 average,” the study maintains.

In the internal analysis of the metallurgical industry, it can be observed, again, a drop in all the subsectors that make up this industrial network, with the exception of Agricultural Machinery and Bodywork and Trailers, two sectors that in 2023 had been among the most affected by the drought.

The Foundry sector fell 13.2%) and the Auto Parts sector, 13.1%. These were the most affected during the current month, while Bodywork and Trailers, with an increase of 18.7% and Agricultural Machinery, with 17.7%, were the sectors that registered an increase during the month.

All items fell in 2024

“All sectors closed 2024 with falls in production compared to 2023. Agricultural machinery (-6.4%) and Bodywork and Trailers (-7.6%) are the two that registered the smallest falls, followed by the manufacturers of Auto parts (-11.7%) and Electrical Equipment and Appliances (-11.8%) although the latter two are close to the general average,” the report says.

Also added are the Foundry sector (-17.7%) and Other metal products (-14%) which were the most affected during the year, followed by Capital Goods (-13.0%) and Equipment. Doctor (12.8%).

The most affected provinces

In this sense, the president of ADIMRA, Elio Del Re, He noted that “there is no developed country in the world that does not have a strong metallurgical industry, since it provides machines and equipment to other industries.”

“The industrial complex in all developed countries plays a fundamental role, taking into account employment and social development,” said Del Re.

Regarding the situation of the main metallurgical provinces, interannual falls are observed again widespread in all regions, although in some provinces the intensity of the decline has decreased.

Mendoza (-7.4%) and Buenos Aires (-5.6%) registered more intense falls in their production in year-on-year terms than the general average of the sector. In Córdoba (-3.6%) and Entre Ríos (-3.3%), for their part, falls were also observed in year-on-year terms, although in smaller magnitudes, while Santa Fe recorded the smallest year-on-year decrease of -0.4%.

Source: Ambito

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