Aceros Arequipa, a local long product maker in Peru, said apparent consumption of Peruvian steel in 2017 is expected to have dropped by 2% year on year to 3 million tonnes.
"Economic growth has been slowed in recent years." Ricardo Cilloniz, chief executive of Aceros Arequipa, mentioned at the 58th Latin American Steel Symposium hosted by Latin American Iron and Steel Institute Alacero on November 8th, Wednesday.
Cilloniz also said that the reduction of investment projects, the disharmonious relationship between the government and the parliament would jeopardize the demand for steel. However, next year maybe will change, Peru plans to look for investment opportunities in mining and public parts.
The planned investment in mining projects between 2018 and 2019 is as much as 10 billion U.S. dollars."Several leading industries that are expected to drive economic growth are the mining, oil and gas industries, infrastructure projects and water conservancy projects," said Cilloniz.
Peru won Cilloniz's approval and support for imposing anti-dumping duties on rebar imports from Brazil and Mexico, but he said the government should do more to prevent unfair competition from imported products. Unlike the other countries in Latin America, there is currently no effective trade protection measure in China.