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Financial News: ARGENTINA: Crude Steel Production Rises 28.2% In September

ARGENTINA: Crude Steel Production Rises 28.2% In September On Annual Basis

10/11/2017 - 15:16:00 (RTTNews)

(RTTNews) - Argentina's crude steel production in September was at 413,000 tons, marking a 28.2% increase over the same month of 2016, said the Argentinean Steel's Chamber. Meanwhile, the production of hot rolled products in Argentina was at 426,800 tons in September, 20.6% higher than in September 2016.

During September, both crude steel production and rolled products continued to show a reasonable level of activity, driven by the reactivation in different customer sectors, the Steel's Chamber stressed.

The entity also noted that shipments to the construction sector increased, consolidating it as the segment with the greatest sign of robustness, mainly in the public works sector.

In this context, "the increase in mortgage loans is expected to boost private work next year. Meanwhile, dispatches directed to producers of agricultural machinery maintain a steady growth, showing a good level of activity in the production and sales of harvesters, tractors, seeders and agricultural implements," the report said.

Also, the activity linked to the developments in energy areas such as Vaca Muerta and the trunk gas pipelines in Córdoba was maintained, driving the growth of demand for steel pipes.

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