According to the report “Quarterly Monitor: China Latin America” published by Alacero the Latin American Steel Association, during the second quarter of 2013 the region continued to be the second most important destination for Chinese finished steel, only surpassed by South Korea. Along with Vietnam and the European Union, these 4 destinations concentrate 40% of the Chinese shipments to the world.

During April-June 2013, China exported 13.9 million tonnes of finished steel to the world, 10% more than during the previous quarter and 8% more than same period of 2012. Main Chinese exports were flat steel products (7.2 million tonnes). Long steel exports amounted 5.4 million tonnes. Wire rod stood out among long products with 2 million tonnes.

Exports to Latin America experienced a record high during the second quarter of 2013, reaching 1.5 million tonnes (55% more than previous quarter and 29% more than same quarter of 2012).

Meanwhile, quarterly exports to South Korea (2.2 million tonnes) dropped 13% comparing to previous quarter and described a stable trend within the analyzed period.

During the 2nd quarter 2013, Latin America concentrated 11% of Chinese finished steel exports, a figure higher than the average 8% observed since the first quarter of 2011. This is the second time the region receives such an elevated volume, a fact that makes clear the growing attraction of the region as a preferred destination for Chinese exports.

Five Latin American destinations are placed within the top 30 Chinese finished steel export markets: Brazil, Chile, Peru, Central America and Ecuador. These represented 76% of Chinese finished steel exports to the region, showing a marked concentration.

Source – Strategic Research Institute