The apparent consumption of rebar in Mexico registered an increase of 17.4 percent, year-over-year, in August, totaling 337,000 metric tons (mt), the third consecutive annual increase and the seventh in the year, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
Rebar is the fourth largest finished steel product with the highest consumption in Mexico and the first in production.
In August, rebar production broke the negative trend of the last four months and increased 1.8 percent, year-over-year, to 348,000 mt. Despite the increase, rebar production represented 22.0 percent of the total production of finished steel products, the second lowest participation so far this year, the highest was in February with 25 percent of the total.
In export, the volume of rebar decreased 76.4 percent to total 13,000 mt. It is the lowest level so far this year. In May of last year, 77,000 mt were exported.
In August, SteelOrbis published that the Mexican Grupo Acerero requested the Ministry of Economy to initiate a Binational Panel under the USMCA due to the dumping margin that the United States Department of Commerce decreed for that company of 16.28 percent. That is 7.1 times greater than that of Grupo DeAcero and 2.8 times greater than the rest of its commercial rivals in the export of rebar to the US market.
In the accumulated January-August period, rebar consumption in Mexico increased 10.2 percent, year-over-year, to 2.74 million mt and production decreased 1.0 percent to 2.91 million mt.