Metallurgical activity does not rebound: it fell 7.1% annually in November and installed capacity is at 50.5%

He metallurgical sector recorded, during November, a drop in its production of -7.1% year-on-year and with respect As of October 2024, production decreased -0.9% without seasonality. In this way, it accumulates a contraction of -12.9% in relation to the same months of the previous year.

The report prepared by the Department of Economic Studies of the Association of Metallurgical Industrialists of the Argentine Republic (ADIMRA), points out that the utilization of installed capacity is 50.5% and It has also registered a decrease, placing it -4.5 percentage points below the same month of the previous year and -8.9 percentage points below the 2023 average.

In the internal analysis of the metallurgical industry, we can observe, again, a fall in all the subsectors that make up this industrial network, with the exception of Agricultural Machinery and Bodywork and Trailers, two items that the previous year had been among the most affected by the drought.

Due to the strong contractions in activity verified in recent months, the level of employment provided by companies in the sector, An interannual decrease of -1.5% is observed. If we compare against the month of October, there were no variations.

Which sectors were the most affected

Supplier companies in the automotive and final consumption sector value chains are those that have shown the worst relative performance, with drops of up to -10%, while suppliers in the agricultural value chain are those that have shown the best relative performance. , on an interannual basis, during the month of October.

The sector of Foundry (-20.4%)Other metal products (-11.2%) and Capital Goods (-9.6%) were the most affected during the current month, while Bodies and Trailers (+8.3%) was one of the sectors that registered an increase during the month.

The president of ADIMRA, Elio Del Repointed out that “We believe in the industry because it is the solution to Argentina’s problems. There is no developed country in the world that does not have a strong metallurgical industry. That is why it is essential to work efficiently between the public and private sectors, to have a competitive environment that allows the industrial sector to show its full potential.”

The situation of the provinces in metallurgical activity

With respect to the situation of the main metallurgical provinces, widespread interannual declines are once again observed in almost all regions, although in several provinces the intensity of the decline has decreased.

Buenos Aires (-9.1%) and Córdoba (-8.3%) recorded drops in their production in year-on-year terms that were more intense than the general average for the sector. In Mendoza (-4.9%) and Entre Ríos (-0.3%), meanwhile, falls are also observed in interannual terms, although in smaller magnitudes.

On the other hand, in the province of Santa Fe there was a year-on-year increase of 0.7%, which was strongly influenced by the recovery of the agricultural machinery sector.