The Argentine chamber of the steel industry, Acero Argentino (AA), informed that the country’s crude steel production has reached 370,900 mt in September against 346,900 mt in August.
On a comparative basis, the production of HRC increased by 7.9 percent to 177,600 mt, the production of CRC increased by 5.7 percent to 101,700 mt, and the production of long products declined by 7.6 percent to 141,400 mt.
When compared to September 2023, the numbers show crude steel production declining by 17.1 percent, HRC production declining by 9.2 percent, CRC production declining by 13.3 percent, and long products production declining by 26.6 percent.
Speaking in Buenos Aires during the Alacero Summit 2024, Martin Berardi, president of AA and director of Ternium, mentioned that Latin America has an opportunity for the reindustrialization of its value chain, and in his view, the world economy is changing from an extreme globalization to an increasing process of regionalization.
He mentioned that the production in Latin America was moving towards primary products, adding that the industrialization towards a more advanced stage of production is the best alternative to the development.
According to Berardi, the reshoring (return of production to the original country of the companies) is expected to change the flow of international trade for the benefit of our industries.
“We must redirect the value chain towards closer, safer suppliers, more committed to the environment, and who share values governed by market rules," he concluded.