Apparent consumption of hot rolled coils (HRC) in Mexico increased 24.1 percent, year-over-year, in August to 458,000 metric tons (mt). It is the second largest volume consumed at least so far this year, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
The annual difference in volume was 89,000 mt, equivalent to 8.9 days of national HRC production, according to August production levels (10,000 mt per day). It is the fifth consecutive month that HRC remains the most consumed finished steel product in Mexico. So far this year there have been seven.
Additionally, HRC production in Mexico broke the negative trend of the last four months and in August increased 2.7 percent, year-over-year, to 309,000 mt. With the largest volume manufactured, HRC is now positioned as the second most consumed steel product in the country.
So far this year, there are only three increases in production: January (35.5 percent), March (12.3 percent) and August. July stands out in the reduction with an annualized drop of 22.0 percent.
International HRC trade in Mexico increased 41.1 percent, year-over-year, in August to 182,000. This increase is explained by the substantial growth of 68.4 percent in HRC imports to 165,000 mt. In contrast, exports decreased 45.2 percent to 17,000 mt.
In the accumulated January-July period, consumption increased 16.9 percent or 488,000 mt to 3.37 million mt. Production decreased 2.7 percent to 2.36 million mt. Trade flow increased 3.4 percent to 41,000 mt, Exports decreased 68.9 percent to 116,000 mt and imports increased 35.7 percent to 1.23 million mt.