The latest statistics released by the Latin American Steel Association (ALACERO) indicates that the finished steel imports from China grew significantly during the month of May this year. The imports between January and May this year too has jumped considerably higher over the previous year.

The finished steel imports by Latin America from China totaled 858,122 tons in April, 90% higher when compared with the imports during May 2013. The region accounted for 11% share of the total Chinese finished steel exports during the month.

The imports during the five-month period from January to May this year totaled 3.4 million tons. This is 81% more than the total imports of 1.9 million tons recorded during the corresponding five month period last year. The gap between South Korea-the largest destination of Chinese exports and Latin America has reduced significantly. Sooner than later, Latin America may become the top destination of Chinese finished steel exports.

The countries which reported highest increase in finished steel imports from China during the five -month period were Paraguay (+273%), Mexico (+164%), Argentina (+157%), Brazil (+138%) and Colombia (+115%).