Argentina's crude steel production showed signs of recovery in July 2024, showing an increase compared to the previous month. According to data from the Argentine Steel Association (Acero Argentino), crude steel production rose by 14.2% to 314,000 tons in July. This increase indicates a short-term revival in the sector.
Particularly noteworthy is the 39% increase in hot rolled steel production. This shows that steel production capacity is responding to rising demand. In addition, cold rolled steel and long product production also gained positive momentum, increasing by 15.4% and 9.4%, respectively.
However, on a year-on-year basis compared to July 2023, crude steel, hot rolled steel, cold rolled steel and long products production declined by between 2% and 30%. This suggests that the sector is still facing challenges in its year-on-year performance and that the recovery has not become fully sustainable. While Argentina's steel industry is showing signs of recovery in the short term, more structural support and strategies are needed for long-term growth.
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