Latin America will increase steel demand

Latin America in 2011 compared with 2010 steel consumption will increase by 7,1%. This opinion was expressed in the Latin American iron ore and steel institute, said Steelguru. It is assumed that the consumption of metal here in the current year will grow to 61.9 million tons. According to the Instituto Latinoamericano del Fierro y el Acero, steel consumption in Latin America in 2010 compared with 2009 increased by 33% and reached 60 million tons. The organization also noted that the metal consumption in Latin America in 1960 was estimated at 6,000,000 tons. Earlier, the president of Latin American Iron and Steel Institute and executive director of steelmakers Gerdau Andre Gerdan Yohanpeter suggested that the production of steel products in Latin America in 2011 will grow by 8%. "Demand continues to grow in the long term. We must work diligently to find ways to ensure sustainable production," - he said. Ministry of Industry