With a growing manufacturing sector in Brazil and other Latin American countries, Antonio Rosset, Commercial Director of Leeco Trading, explains how Leeco is prepared to meet increased raw material demand.
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“As manufacturing grows in Brazil and other Latin and South American countries, we are prepared to meet increased raw material demands using our expertise and sourcing capabilities,” Antonio said. “In addition to sourcing steel and metal, we have expanded our import capabilities to also offer a variety of fertilizer products to meet demand and better serve our Latin American region customers.”
Across Latin America and South America, recent economic news points to increased manufacturing and economic activity.
Mexican President Andres Manuel Lopez Obrador announced he will soon unveil a set of major infrastructure projects to help boost the economy. More than $400 billion USD will be invested in these projects, which are planned to take place over the course of the 2018-2024 administration.
Brazil’s manufacturing sector expanded at the fastest rate in seven months in September, with a PMI reading of 53.4. Increases in new orders and employment helped fuel the expansion. September marked the second consecutive month of growth in manufacturing.
Economic activity in Chile increased 3.4% in August from the same time a year ago, beating expectations. A surge in mining activity helped boost economic activity – mining activity increased 5.3% in August compared to August 2018.
GM idled production at their Silao, temporarily laying off more than 6,000 workers. GM stated the decision to idle production was the result of a parts shortage due to the UAW’s strike against GM. A spokesperson from GM stated their “primary focus is to get a deal and get everybody back to work” as soon as possible.