Because steel industry is the basis and origin for the emergence of other industries and manufacturing, due to its unique ability to generate high quality employment, technological development and training, and its strong and ongoing relations with their communities and value chain, the steel industry is considered an engine of development and progress in societies.
Latin America produces around 5% of the world's steel. For that, the steel industry employs almost 225,000 people directly, in more than 160 production plants distributed throughout the continent. In addition, the steel industry is a large employment multiplier. According to worldsteel estimates – the association that brings together the steel industry at a global level, the number of jobs related to the Latin American steel value chain would exceed 5.5 billion when indirect jobs are integrated.
The per capita steel consumption of a country or a region is an appropriate measure for standard of living and development. Thus, the most advanced societies have the highest consumption of steel. Currently, the global average of the annual steel per capita consumption is 225 kg. Latin America is still below that average: 130 kg/year per inhabitant.
Mainly populated by young people with a growing number of its inhabitants being integrated to the middle classes and consumption with excellent energy sources and abundant natural resources, Latin America is a land that promises a bright and sustainable future. The steel industry is in the center of the strategy that is required to build it.