The Latin American Steel Association (Alacero) said that South American steel companies should focus on enhancing competitiveness and sustainability within the steel industry to increase product value.

Trends in value chain restructuring and regionalization are creating new opportunities in South America, which is home to some of the world's lowest carbon footprint steel producers and a competitive integrated metal machinery value chain.

South American governments and domestic industries must develop plans to capitalize on reindustrialization opportunities, overcome high investment costs, and transition products toward low-carbon steel.

Alacero added that South American countries don't require protectionism but fair trade based on established standards.