Posted on 14 Mar 2023
The Latin American Steel Association (ALACERO) warned that the world's largest steel producer China is putting pressure on the steel sector in the region, especially 2023 is a difficult year due to the aftermath of the pandemic and the war in Ukraine.
ALACERO explained that the steel sector faces a slow recovery in 2023 due to uncertainties in international trade and internal policies for industrial recovery. In addition, this year's challenge is increasingly sustainable to meet global decarbonization goals, according to the association.
Alejandro Wagner, executive director of ALACERO, estimated that the steel demand will be more moderate in 2023, and the region will see complications due to high interest rates, still-rising inflation, and a slow global economy due to the energy crisis and the war in Ukraine.
Source:Yieh
