Statistics reveals that Latin America's 2009 demand of stainless steel flat products dropped to 340,000tons from 2008's level of 450,000tons, but rebound to 467,000tons and 459,000tons by 2010 and 2011 respectively.
After the global financial crisis of 2008-2009, the consumption of stainless flat steel in Latin America has been flagging, and will hardly turn better before 2014.
Brazil, which accounts for two third of the total stainless consumption of the South American, its GDP grew by only 2.7% that will affect the entire Latin American region.
Brazil still has some economic problems, such as too many inland revenue ordinance, high tax rate is high, and the relatively poor infrastructure.
The whole South America has been suffered from limitation to industrialization, especially in Brazil, which industrial output proportion in GDP dropped significantly.