Latin America’s crude steel output down 16% in September on high costs

摘要

Latin America’s crude steel output fell 16% year on year in September to 4.69 million tonnes on high costs of iron ore and low global prices for finished products, according to regional steel association Alacero. “Given the low price of steel and the jump in the cost of raw materials, some producers have optimized their production,” Alacero said. The association also attributed the drop to the suspension of three blast furnaces in Brazil, the region’s largest steel-producing country. Supply disruptions in Brazil and Australia have sent iron ore prices to multi-year highs this year.