In 2010, Latin American steel imports reached 15.4 million metric tons, almost returning back to the pre-crisis leves, according to a statement released by the Latin American Iron and Steel Institute (ILAFA). Around 4.3 million metric tons of those imports came from China, representing almost 30 percent of the region's total steel imports.
Latin America's steel import volume from China has set a record high and represents a 216 percent increase compared with the previous year. Since 2005, China's penetration rate in the total volume of Latin American steel imports has continued to grow, going from three percent in 2005 to almost 30 percent this year.
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