Steel production in Argentina registered a significant year-on-year decline of 26% in 2024, according to the Argentine Chamber of Steel. During the year, a total of 256,300 tons of crude steel were produced, marking a decrease of 24.3% compared to the previous month and 23.1% compared to the previous year.
Regarding hot-rolled production, it experienced a decline of 31.4% compared to the previous month and 13.1% in year-on-year terms. In December, maintenance shutdowns and inventory adjustments were carried out due to decreased demand in the market.
Despite current difficulties, an increase in demand is projected for the year 2025, especially in activities linked to the energy sector. However, concerns persist about structural issues affecting the competitiveness of the steel chain. Among these problems, high taxes such as Gross Revenues and constantly increasing municipal rates, as well as challenges related to bank credits and local costs in dollars, stand out.
Additionally, unfair competition from products from other economies that distort the market also represents a challenge for the sector. Despite these obstacles, demand for the year 2025 is expected to be higher than that recorded in 2024, although it will remain below the levels reached in 2023. The sector continues to bet on renewable energies as part of its commitment to the decarbonization of production processes.
