Argentina's Steel Production Dips in October
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Argentina's steel production experienced a decline in October 2024, according to data released by the Argentine Chamber of the Steel Industry (Acero Argentino).
Crude steel production reached 359,600 metric tons in October, a 21.6% decrease compared to the same period in 2023. However, there was a slight increase in production of specific steel products. Hot-rolled coil (HRC) production rose by 4.4% to 185,500 metric tons, cold-rolled coil (CRC) production increased by 4.5% to 106,300 metric tons, and long product production grew by 7.1% to 151,500 metric tons.
The decline in overall steel production can be attributed to several factors, including a slowdown in the construction sector, which is a major consumer of steel products. The automotive sector, another key consumer, also experienced a decline in production during the first ten months of the year.
Despite these challenges, the machinery and agriculture equipment sectors showed signs of recovery, benefiting from the end of the dry season. Additionally, the domestic appliances sector is experiencing a revival due to the return of credit lines to individual consumers.
The Argentine steel industry will continue to monitor market conditions and adjust its production accordingly to address these challenges and capitalize on emerging opportunities.
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Argentina's steel production experienced a decline in October 2024, according to data released by the Argentine Chamber of the Steel Industry (Acero Argentino).
Crude steel production reached 359,600 metric tons in October, a 21.6% decrease compared to the same period in 2023. However, there was a slight increase in production of specific steel products. Hot-rolled coil (HRC) production rose by 4.4% to 185,500 metric tons, cold-rolled coil (CRC) production increased by 4.5% to 106,300 metric tons, and long product production grew by 7.1% to 151,500 metric tons.
The decline in overall steel production can be attributed to several factors, including a slowdown in the construction sector, which is a major consumer of steel products. The automotive sector, another key consumer, also experienced a decline in production during the first ten months of the year.
Despite these challenges, the machinery and agriculture equipment sectors showed signs of recovery, benefiting from the end of the dry season. Additionally, the domestic appliances sector is experiencing a revival due to the return of credit lines to individual consumers.
The Argentine steel industry will continue to monitor market conditions and adjust its production accordingly to address these challenges and capitalize on emerging opportunities.
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