The recovery of Argentina's steel industry accelerates

Although the new outbreak continues, Argentina's steel industry has begun to recover. According to the latest statistics of Cámara Argentina de Acero (CAA), Argentina's crude steel output increased month on month in July 2020, but in the first seven months, the cumulative crude steel output still declined year on year.

"Steel production began to recover gradually in May after the epidemic situation control measures became more flexible," commented the Argentine Steel Association. The main driving forces for the economic recovery initially came from the construction industry, white goods industry, automobile industry and agricultural machinery industry, which have maintained a sustainable operation rhythm since the restart.

However, the association added that the overall performance of the energy industry remained sluggish due to the lack of domestic drilling activities, which had a significant negative impact on the production and consumption of steel pipe materials.

Argentina's hot rolling steel production in July was 302600 tons, an increase of 21.5% compared with June, but a decrease of 20.7% year-on-year. So far this year, the cumulative output of hot rolling steel is 1644500 tons, down 33.4% year on year.

BBN steel has stable business about steel materials in Argentina market. The main steel materials we export to Argentina are carbon steel, low alloy high strength steel, shipbuilding steel, automobile steel, etc.