The Latin American steel industry is grappling with stagnant demand and high production costs, according to Ezequiel Tavernelli, Executive Director of the regional steel association Alacero. He noted that while countries like Brazil and Mexico show resilience, others remain vulnerable due to reliance on raw material imports. The region's steel demand is projected to decline by 2.7% in 2024, reaching 71.8 million tons, while crude steel production is expected to fall by 3.6% to 56.3 million tons. Additionally, the influx of cheap Chinese steel is undermining local producers, prompting calls for strategies to bolster the domestic industry.