BUENOS AIRES -(Dow Jones)- Argentina's steel production rose 15.1% on the year to 437,900 metric tons in February, according to industry trade group Acero.
"The outlook for 2011 indicates that growth in production will continue to the degree that conditions favorable to the development of the industry continue," Acero said in a statement Thursday.
Iron production rose 15.8% on the year to 351,000 tons last month.
The production of hot-rolled products jumped 54.9% to 384,600 tons, while cold-rolled output more than doubled to 125,100 tons.
Argentina's steel production in 2010 totaled 5,138,400 tons, up 28% on the year, but still below the 5,541,400 tons produced in 2008.
Acero said wages in the sector are expected to have increased 54% between April 2009 and April 2011, and upcoming salary negotiations with unions will "increase that amount in a notable way."
Unions are demanding salary increases this year of around 30% as they seek to preserve the purchasing power of their constituents from double-digit inflation.
Most private sector economists say inflation is running at about 25%, while the government said earlier this week that inflation as measured by its consumer price index eased to 10% at the end of February.
The administration of President Cristina Fernandez has long downplayed inflationary pressures in the economy, though last week it took the unusual step of fining at least three economic research firms for publishing consumer price information the government says is misleading to the public.
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