Argentina's crude steel production increases by 11.1% in June | AmericaEconomy

Buenos Aires .- Argentina's crude steel production rose 11.1% from June, reaching 413,500 tons, while it declined by 5.6% compared to the previous month. , said Friday the Argentine Chamber of Steel (CAA).

In the construction sector, the work that has been started is continuing, the entity said in a statement, adding, however, that demand was declining. The Argentine economy is showing signs of slowing due to a sharp reduction in public spending incurred by the government with the International Monetary Fund (IMF), in conjunction with small businesses, which shows a decrease in investment material orders. moments of a sharp devaluation of the currency and the inflationary rise.

"The automotive sector has reported worse than expected results with a decline in activity, both compared to the month of May and the same month of 2017," explained CAA, and maintained that "the agricultural machinery and tools sector continues to show a slowdown in orders."

Primary iron production totaled 272,800 tons in June, which means an interannual improvement of 3.7% and a drop monthly 11.0%

Hot-rolled production totaled 367,800 tonnes, down 7.8% from June 2017 and 10.7% from last May.

The cold-rolled segment recorded a production of 111,800 tonnes in the sixth month of the year, up 8.0% from the same month last year and 20.7%. % compared to the previous month.

The members of CAA are the steel companies Ternium and Tenaris, controlled by the Techint industrial group, and Arcelor Mittal's Acindar