For 2020, Honduras was the largest importer of iron and steel sheets in the Central American region with $198 million, it is noted that the main seller was China with 46.15% of the market, equivalent to $330.5 million, being the country with the highest growth in sales.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
In response to the authorities' consultation on the request for a safeguard measure on the import of steel products, the builders are opposed on the grounds that this would make materials more expensive, in addition to making their production inefficient.
During the first half of 2019, imports of iron and steel sheets in the countries of the region totaled $446 million, and purchases from companies in Mexico increased by 24% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
During the first quarter of 2019, imports of iron and steel sheets in the countries of the region totaled $224 million, 7% less than reported in the same period of 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
Inversiones Los Pinares, in charge of building an iron oxide mine in Tocoa, Honduras, plans to begin exporting to the U.S. market in late 2020 or early 2021.
Representatives of the company informed that currently the construction works of the plant are carried out where the iron oxide that will be extracted from the mine will be processed and also warehouses, administrative offices and other enclosures are built.
In Costa Rica, the government's decision to reject ArcelorMittal's request to raise the import tax on steel rods generated such a conflict that the company assured that "it has no incentive to keep its production in the country."
After concluding its investigation, the Ministry of Economy, Industry and Commerce (MEIC) decided to reject the request of the manufacturer ArcelorMittal to apply a safeguard measure on imports of alloy and non-alloy steel rods.
In the first half of the year, iron and steel sheet purchases in the countries of the region totaled $525 million, 2% more than imports in the same period in 2017.
Figures from the information system on the Iron and Steel Sheet Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Since November 1st, the Honduran government decided to reduce from 35% to 25% the import tariffs for steel sheets and other related products.
According to businessmen in the sector, the action taken by the authorities seeks to ensure the supply of steel sheets and other similar products at national level, as well as ensuring product price stability.
In Costa Rica, importing companies are against the ArcelorMittal proposal, which consists of raising the steel rod income tax from 1% to 15%.
On November 5th, a public audience was held in which importing companies and ArcelorMittal presented their arguments before the Ministry of Economy, Industry and Commerce (MEIC) regarding the proposal to raise the import tariff on steel rod by 14%.
In the first quarter of 2018, imports of iron and steel sheets made by companies in the country totaled $35 million, 44% more than in the same period in 2017.
Figures from the information system on the Iron and Steel Sheet Market in Panama, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In the first quarter of the year, purchases of iron and steel sheets in countries in the region totaled $270 million, 23% more than the amount imported in the same period in 2017.
Figures from the information system on the Iron and Steel Sheet Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In the first quarter of the year, companies in Honduras imported $36 million worth of iron and steel sheets from China, 36% more than in the same period in 2017.
Figures from the information system on the Iron and Steel Sheet Market in Honduras, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
ArcelorMittal has requested the restoration of a 15% import duty on steel rods, arguing that "the vast majority of these imports enter the country without paying taxes, taking advantage of a legal loophole".
After thereaction from the construction sector,the steel rod manufacturer in Costa Rica, ArcelorMittal, justified its decision to request an investigation from the Ministry of Economy, Industry and Commerce (MEIC) to decide if it will impose a safeguard measure and impose a 15% tariff on imports of the product.
The Canal Authority has announced that it will dismantle the old Miraflores revolving bridge and hold a tender to sell the ferrous material.
From a statement issued by the Canal Authority:
March 17, 2018.The Panama Canal is developing a plan to dismantle the old Miraflores revolving bridge, which has been in disuse for more than 20 years and which ceased to be functional with the construction of the new Cocolí locks in June 2016.