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Argentina's crude steel production decreased by 35.2% in June

Argentina's crude steel production experienced a significant downturn in June 2024. Output decreased by 11.9% m/m and by a significant 35.2% y/y.

Argentina's crude steel production decreased by 35.2% in June

According to data released by the Argentine Steel Chamber (CAA), June production reached 274,800 tons, down by 11.9% from 312,100 tons in May. This figure also represents a substantial 35.2% drop compared to the 422,900 tons produced in June 2023.

A similar downward trend was observed in primary iron production. June output decreased by 6.9% compared to May, dropping from 249,000 tons to 231,900 tons. Compared to the 288,800 tons produced in June 2023, Argentina saw a decrease of 19.7% in primary iron production.

June production of hot-rolled products also saw a significant decrease, falling by 6.4% from 250,100 tons in May to 234,000 tons. This output is a substantial 43.4% lower than the 413,800 tons produced in the same month last year.

However, a slight increase was observed in the production of cold-rolled flat products. June production increased by 1% compared to May, increasing from 81,200 tons to 82,000 tons. Despite this, production still decreased by 29% y/y, compared to the 115,500 tons produced in June 2023.

The drop in production capacity is attributed to shutdowns, particularly in industries producing long products. While challenges persist throughout the sector, some plants are expected to resume operations in July.

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