Compared to September of last year, Mexican steel exports to the United States decreased by 25% compared to the previous year due to continued U.
S. import duties.
- Compared to September last year, Mexican exports to the United States decreased to 1.29 million tons, while exports to Canada increased by 31% to 118,000 tons and 71,000 tons, respectively, according to steel chamber Canacero. The sharp increase in exports to the second and third largest countries where Mexican steel is produced reflects the willingness of Mexican producers to look for other markets for their products.
- In March, the United States imposed duties of 25% on all steel exports, which then doubled to 50% in June. Previously, the United States was Mexico's largest steel trading partners, but now Mexican steel is uncompetitive in the American market, and Mexican hot-rolled roll (HRC) is valued at $115 per metric ton compared to American HRC excluding freight.
- Imports decreased by 13% to 8.62 million tons in the first nine months of this year. The largest sources of steel imports to Mexico were the United States, Japan and South Korea, while imports from South Korea decreased by 29% year-on-year.
- Consumption has fallen for the 23rd month in a row as low government spending reduces demand for steel in the country. Consumption fell by 10% to 19 million tons in September compared to the same period last year, with the most consumed products being hot-dip galvanized coils (HDG), HRC and cold-rolled products.
- Since the beginning of the year, production has fallen by 9% to 12.6 million tons, with rebar, HRC and HDG being the most produced products.
