Argentina's crude steel and hot-rolled production increased in November from a year earlier, while output of cold-rolled and primary iron fell over the same period.
Despite slowing activity in metal-consuming sectors, crude steel output increased by 10.7pc to 374,900 metric tonnes(t) in November from a year earlier, industry body Acero Argentino said.
Hot-rolled steel output edged up to 334,300t in November, up by 0.7pc from 332,100t a year earlier.
Investments in Vaca Muerta, Argentina's massive shale oil and gas formation, have partially supported crude steel demand throughout the year, including in November, Acero Argentino said.
The projects in the region demand steel for pipelines and structural steel for energy infrastructure.
In contrast, lower activity in the machinery, construction, household appliances and automotive industries held back steel consumption. Demand softened because of broader macroeconomic issues, such as high inflation and high borrowing costs.
Argentine mills reduced cold-rolled steel production by 1.1pc to 82,800t in November from a year earlier given the lower demand. Primary iron output fell to 214,900t, down by 21.6pc compared to the previous year.
Steel demand also weakened because of the automotive industry, which posted a 29.3pc decline in output in November from a year earlier.
In addition, a decline in cement sales signals slowing activity in the construction sector, another key steel consumer. Shipments dropped by 4.2pc on the year in November, Acero Argentino said.
Imports of steel-manufactured goods added another layer of pressure on domestic demand for steel, the industry chamber said. Household appliances and heavy machinery manufacturers reduced feedstock orders and production as import competition rose.
