Domestic steel and raw material prices are on the rise in key Latin American countries as economic recovery and manufacturing activity strengthen. As a result, many manufacturers in the region are struggling to control production costs and are therefore turning to international sources for their raw material needs.

Leeco Trading’s experienced team partners with quality suppliers across the globe and is prepared to help manufacturers control costs through raw material imports. Contact us today to request a quote or learn more.

Market Metrics to Watch

Manufacturing PMI

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Brazil
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Mexico

Brazil’s manufacturing PMI rose month-over-month during June, driven by solid rises in new orders and factory output. While Mexico’s manufacturing PMI remained at a level of contraction for the 16th consecutive month in June, it marked the slowest contraction in factory activity since the start of the COVID-19 pandemic.

Capacity Utilization

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Brazil
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Mexico

Capacity utilization slightly decreased month-over-month in both Brazil and Mexico, but remained relatively strong.

Imports

Below is a chart showing June import levels for Mexico, Brazil and Chile. Imports to Brazil and Mexico slightly increased month-over-month, but imports to Chile slowed month-over-month.

Mixed Car Production

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Brazil
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Mexico

Car production was mixed in Latin American’s largest economies during June. Car production in Brazil slumped 13.4% month-over-month, marking the smallest production level in a year. However, car production in Mexico rose 8.4% month-over-month, driven by stronger output levels from key automakers.

Currency Stabilizes, Inflation Concerns Remain

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Brazil
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Mexico

The Brazilian real moved away from one-year highs reached in June during the week of 7/26. However, analysts say inflation will remain elevated in the near term. The