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Chinese steel exports to Latin America in 11 months down by 10pct

Chinese steel exports to Latin America in 11 months down by 10pct

BEIJING: Alacero reported that China shipped to the world 67.4 million tonnes of steel, which 61.7 million tonnes were finished steel (long steel, flat steel and seamless pipes) and 5.7 million tonnes were steel-derivatives products. This volume is 32% lower than registered during Jan/Nov 2016 (98.6 million tonnes). For its part, Latin America accounted for 9.4% of total global exports, increasing its participation in 2.3 percentage points versus Jan/Nov 2016 (7.1%) and continuing at third place as China’s preferred destination. The region is preceded by Sout

Korea (10.6 million tonnes, 16% of the global total) and Vietnam (7.2 million tonnes , 11% of the total). In this period, Latin America received 6.3 million tonnes of Chinese steel products, which 5.6 million tonnes were finished steel and 686 thousand tons were steel-derivatives products. This volume is 10% lower than 7.0 million tonnes recorded in Jan/Nov 2016. Also, it should be noted that Latin America is the main global destination of steel-derivatives, with a participation of 12%, which equates 686 thousand tonnes. The region is followed by the Philippines (370 thousand tonnes, 7% of the total) and India (321 thousand tonnes, 6% of the total). The main destinations for Chinese steel (finished + steel-derivatives) in Latin American during Jan/Nov 2017 were: Central America which received 1.3 million tonnes (20% of the region); Chile with 1.2 million tonnes (19%); and Peru, 869 thousand tonnes (14%).  In this eleven months of the year, the countries that increased their imports of Chinese steel (in percentage terms) versus Jan/Nov 2016 were Ecuador (+22%), Dominican Republic (+20%) and Chile (+5%).  Contrary, the countries that have reduce their imports of Chinese steel products versus Jan/Nov 2016 were: Venezuela (-55%), Cuba (-51%), Central America (-26%), Paraguay (-23%), Argentina (-15%), México (-6%), Brazil (-5%), Colombia (-3%) and Peru (-3%).  Chinese finished steel exports by products