Steel News

We strive to let you one step ahead of the market.

ALACERO: Steel demand to grow slightly in 2023 but fall in 2024

14 Nov 2022 15:15 reported by Raul Lee

A A A
According to the Latin American Iron and Steel Association (ALACERO), between January and August of this year, steel production in Latin America contracted by 3.3% compared to the same period in 2021. For the future, the association estimated that the steel demand will grow slightly in 2023, but by 2024 it could be contracting.

Alejandro Wagner, executive director of ALACERO, indicated that it is possible that the steel demand will contract in 2024 due to lower global growth, a strong energy crisis, and a geopolitical realignment due to the war between Russia and Ukraine.

Regarding steel prices, Wagner said price drops are common reactions to falling demand after 2021, a year of strong growth. In addition, the adjustment in steel prices is related to higher prices of raw materials following pressure from China, with the resumption of supply from emerging countries.

Back to Steel News

Related News

Brazil’s Gerdau considers downside of Brazilian operations

  • Industry activities
  • 23 Feb 2024 17:23

Ukrainian Metinvest's 2023 steel output reduces due to war losses

  • Industry activities
  • 23 Feb 2024 17:11

thyssenkrupp Electrical Steel to supply CO2-reduced electrical steel to Siemens Energy for offshore wind farms

  • Industry activities
  • 23 Feb 2024 16:41

Salzgitter & Octopus Energy sign power purchase agreement for green steel production

  • Industry activities
  • 22 Feb 2024 17:06

Germany's Sunfire installs 20 MW electrolysis plant in Harjavalta, Finland

  • Industry activities
  • 22 Feb 2024 16:20

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,348.00
  • 2,391.00
  • Aluminum
  • 2,156.50
  • 2,196.50
  • Copper
  • 8,442.00
  • 8,537.00
  • Nickel
  • 17,175.00
  • 17,400.00

Learn more

Coil Exchange Center

  • 2B Coil-Mar
  • 2,460
  • 2,320
  • NO1 Coil-Mar
  • 2,430
  • 2,290
  • 2B Coil-Mar
  • 2,460
  • 2,320
  • NO1 Coil-Mar
  • 2,430
  • 2,290

Learn more