Rio de Janeiro – Speaking at a congress this Tuesday (25), Latin American Steel Association (Alacero) president Jefferson de Paula said he expects “a promising recovery of the economy and of the steel industry in Latin America in 2017.” At the Alacero industry show, Jefferson de Paula said the world economy is showing signs of a rebound, “with projections of 3.4% growth in 2016.” He is also the CEO for Central and South America with ArcelorMittal and a board member with the ArcelorMittal group.
De Paula believes that although Latin America will consume 64.8 million tons of steel in 2016, a 6.5% drop from 2015, 2017 will see 3.6% growth compared with this year. According to him, this will be so because steel consumption is expected to increase significantly across the region’s top markets: Mexico, Brazil, Argentina and Colombia. Jefferson de Paula added that in 2015, Brazil’s economy reverted back to 2006 and 2007 levels. Nonetheless, he believes that “the worst has passed and the country is moving steadily towards recouping its losses.”
*Translated by Gabriel Pomerancblum
