According to latest figures published by Acero Argentino (AA), Argentina's steel production showed signs of recovery, though the industry still recorded a decline from the previous year's figures in July 2024. According to a recent report by the national steel association, the production of crude steel increased by 14.2% from June, reaching 313,900 tons. Despite this monthly growth, production was still 9.2% lower than in July of the previous year.
The production of hot-rolled coils (HRC) also reflected significant growth, increasing by 25.3% to 293,200 tons from June 2024. This rebound was primarily due to the resumption of operations at several long product plants that had temporarily ceased production the previous month. However, on a year-on-year basis, the output of HRC still saw a decline of 15.2%.
The report further detailed the production of cold-rolled coils (CRC), which increased by 15.4% month-over-month to 94,600 tons. Yet, this figure represented a 10.6% decline compared to July 2023.
Sector-wise, the automotive and construction sectors showed signs of recovery, which positively impacted steel demand. Notably, the construction sector's recovery was evidenced by a 25.9% increase in cement dispatches from June, though this was still 14.4% lower than the same month last year. The automotive sector experienced a substantial monthly production increase of 38.7%, despite being down 9.8% year-on-year.
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