Argentina’s crude steel production increased significantly by 31% month on month in April

According to data released by the Argentine HC260B steel Steel Industry Association (AA), Argentina's crude steel production significantly increased from 241000 tons in March to 316000 tons in April 2024. In addition, the production of hot-rolled coils increased by 39.3% month on month, reaching 171000 tons; The production of HC260B steel cold-rolled coils increased by 34.9% month on month, reaching 81000 tons; The production of long timber increased by 34.9% month on month, reaching 11.4 tons. The significant increase in production compared to the previous month was due to a six day strike by the Argentine Union of Metal Workers (UOM) in March, and the shutdown of some production lines by Acindar, a subsidiary of ArcelorMittal Argentine Steel, resulting in a lower base for the previous month.

However, compared to the same period last year, due to sluggish steel demand, the production of crude steel and various steel varieties is relatively low. In April 2024, the local crude steel production decreased by 26.3% year-on-year, the hot-rolled coil production decreased by 20.9% year-on-year, the cold-rolled coil production decreased by 28.6% year-on-year, and the long material production decreased by 38.3% year-on-year.

Except for the energy industry, there are currently no signs of recovery in other steel industries. The civil construction industry is still in a stagnant state, while the household appliance industry remains the industry most affected by the economic crisis. In contrast, the automotive HC260B steel and packaging industry, as well as the machinery and agricultural equipment industry, have generally operated steadily. The former maintains stable demand, while the latter is optimistic about the next season's production of bulk crops.