The economic slump in the wake of the Covid-19 pandemic will reduce apparent steel consumption by 13.7% in Latin America during 2020, compared with last year, regional steel association Alacero said on Wednesday May 13.
Alacero forecast steel demand to total 55.4 million tonnes in Latin American countries in 2020, down from 64.2 million tonnes in 2019. The company's expectation is temporary, however, while countries are still assessing the full impact of Covid-19 on their economies.At the beginning of March, Alacero announced its growth outlook expectations for steel consumption in 2020...