According to the Latin American Steel Association (ALACERO), between January and November of 2014, China shipped 7.4 million tonne of finished steel to Latin America.

The figure amounts to 56% more steel than during the same period in 2013 when it stood at 4.8 million tonne.

Global finished steel exports from China reached 75.5 million tonne during the January to November 2014 period, a 53% YoY growth, which was slower than the flow of products into Latin America.

Shipments to Latin America accounted for 9.9% of global Chinese finished steel exports. The region ranks second among world destinations for Chinese steel, surpassed only by South Korea that received 11.5 million tonne (a 15% share). The third biggest destination for Chinese steel is Vietnam, with 5.6 million tonne (7.5% share).

Latin America took in 729kt of finished steel from China in November 2014, which was 8.6% more than October 2014 and 83% more than November 2013 (399kt).

Between January and November of last year, the main destinations for Chinese finished steel was Brazil (1.8Mt) followed by Chile (1.1Mt) and Central America (1Mt).

During that period, the proportional growth of finished steel imports was more marked in Paraguay (+155%), Mexico (+154%), Columbia (+129%) and Argentina (+68%).

ALACERO said that Mexico continues to experience a marked increase in finished steel exports from China. During the first 11 months of 2014 it received 694kt. Over the same period, Columbia imported 715kt compared with 311kt in 2013 - an increase of 129%. Columbia is the fifth biggest destination for Chinese exports in the region and has a 10% share of regional inflow.