Inflation impacts negatively on the Latin American steel industry

According to the Latin American Steel Association Alacero, the tightening of monetary policies by Latin American and US banks due to global inflation led to negative growth prospects for the Latin American steel industry in late 2022 and early 2023.

Alacero's CEO, Alejandro Wagner, said that expectations have weakened due to falling foreign demand, high interest rates and decreasing purchasing volumes. Countries all over the world are going through an unprecedented period of inflation.