Argentina’s steel sector demonstrates tremendous growth in February

South America, as one of the regions hardest hit by COVID-19, has always been considered an indicator of the level of recovery worldwide.

Argentina’s steel industry recovered quite positively in February this year. According to statistics provided by the Argentine Chamber of Steel (CAA), in February of this year, hot rolled flat products production in Argentina increased by 50.6% year on year to 360,500 tonnes. This situation was mainly driven by the rebound in the growing demand for steel in the construction industry.

However, steel and primary pig iron production declined slightly in the same month, down 3.8% and 0.9% on the same month last year, respectively.

In this regard, the CAA confirmed that this was because some businesses suspended their operations in February this year in order to carry out maintenance on their facilities.

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