Data from the World Steel Association (worldsteel) reveals a rebound in crude steel production in Latin America for June. Following four months of decline, South America's production increased to 3.51 million tons in June, up by 239,000 tons from May and a 4.1% rise compared to 3.37 million tons in June 2023. For the first half of 2024, production totaled 20.68 million tons, marking a 1% year-on-year decrease.

Brazil, the region's largest steel producer, reported a June crude steel output of 2.87 million tons, a 290,000-ton increase from May and an 11.8% rise compared to last year. The country's total for the first half of 2024 reached approximately 16.43 million tons, up by 2.4% from the same period of the previous year.

In contrast, Argentina, the second-largest producer in South America, saw an 11.8% decrease in June production, totaling 275,000 tons, down by 35% year-on-year. Cumulative production for the first half of the year was 1.87 million tons, a 25.2% decline compared to the same period in 2023.