According to the Latin American Iron and Steel Institute (ILAFA), China's steel exports to Latin America reached around 2 million tons in the first half of this year, accounting for 30% of the region's total imports.
In addition, Chinese steel exports to Latin America in the Q1 increase by 13% from that in the Q4 of last year; furthermore, it soared by 58% quarter on quarter in the Q2.
Meanwhile, the report also showed that Latin America's crude steel output increased by 13% in the first seven months of this year to reach 40.23 million tons.
Also, Latin America's rolled steel production in the first seven months of this year totaled 32.9 million tons, soared by 7% year on year.
ILAFA predicted that the steel consumption in the region would reach 14.9 million tons in the Q2, rose by 3% from the Q1