According to statistics released by the Argentinian steel association (Acero Argentino), in February, Argentina's crude steel production was around 359,000 tons, falling by 18.8% from the previous month.

During the same period, the production of hot-rolled coils fell by 10.3% to 175,000 tons, that of cold-rolled coils slid by 22.5% to 84,000 tons, and that of long products decreased by 14% to 167,000 tons.

The association said that the drop in steel production was because of the weak performance of the civil construction sector. Besides, the machinery and equipment demand for the agriculture sector was also in difficulty in February.