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Latin American steel outlook affected by inflation & monetary policy

22 Nov 2022 16:51 reported by Lena Yang

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According to Alacero, the Latin American Steel Association, Latin American and US banks tightened monetary policy amid global inflation, leading to alleviative growth prospects for the Latin American steel industry at the end of 2022 and early 2023.

Alejandro Wagner, the Executive Director of Alacero, said the projections were weakened by falling external demand, high-interest rates, and reduced purchasing amounts. The world is experiencing unprecedented inflation, which is widespread across countries.

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