Despite internal and external uncertainties, the overall recovery of steel demand in Latin America is expected to continue. Brazil's economy has recovered for three consecutive years, and the construction industry is expected to improve slightly in 2019. On the other hand, due to weak mining investment, budget constraints, policy uncertainty and the slowdown of the U.S. economy, Mexico's steel demand growth is expected to be moderate.
The political situation in Venezuela and its impact on steel demand in the region remain unclear.
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