Latin America generally refers to the region of America south of the United States, including Mexico, Central America, the West Indies, and South America in North America. Due to the fact that this region had long been a colony of Spanish and Portuguese, with Spanish dominating (Portuguese in Brazil and French in Haiti), it was called Latin America.

Not only does this place have football, carnivals, and the mysterious Amazon rainforest, but it also harbors abundant resources and unlimited business opportunities, making it a recognized blue ocean new market in the industry.

Latin America occupies nearly 13% of the Earth's land surface area, with a land area of 20.7 million square kilometers. The rich and diverse geographical and climatic environment brings abundant and diverse natural resources. Agriculture, forestry, fishing, and mineral resources are very abundant. A large and youthful population. It is one of the regions with the youngest population composition in the world.

The abundant natural resources and demographic dividend have laid a material and demographic foundation for the sustained economic growth of Latin America. During the 200 years from 1820 to 2020, influenced by turbulent colonial history and long-term intervention by the United States, the Latin American economy experienced several setbacks but maintained a growth trend.

According to World Bank data, the top five trading partners in Latin America are the United States, China, the European Union, Japan, and South Korea.

At present, China's top five trading partners in Latin America are Brazil, Mexico, Chile, Peru, and Colombia.

The Latin American Steel Association pointed out that the industry is recovering with increasing production, driven by Argentina, Colombia, Mexico, and Brazil.

Francisco Lille, Director of the Latin American Steel Association, said, "In order to keep up with growing demand, the industry is recovering by increasing production, restarting blast furnaces, and increasing steel production."

The growth in steel consumption in Latin America is mainly attributed to the economic performance of Argentina, Colombia, Mexico, and Brazil, which are the regions with the best performance in the steel industry this year.