Imports of finished steel products to Mexico posted another significant increase, now up 50.3 percent, year-over-year, in July to 1.26 million metric tons (mt). It is the third consecutive time that 1.0 million mt in monthly imports has been exceeded, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
In contrast, the export of finished steel products posted the second-worst recent drop, plummeting 42.7 percent, year-over-year, to 246,000 mt. It is the ninth consecutive annual drop and the lowest volume exported since November 2022.
In July, the flow of international trade in finished steel products from Mexico totaled 1.50 million mt, 18.8 percent more than in the same month last year. It is the third consecutive annual increase in at least nine months.
The four main sellers of steel to Mexico contributed 72.8 percent of the total. The United States exported 357,000 mt to Mexico (28.4 percent of the total imported), 11.6 percent more than the volume sold in July 2022.
Japan exported 224,000 mt (17.8 percent of the total) to Mexico, 124.0 percent more, China sold 167,000 mt (13.3 percent of the total), 125.7 percent more, and South Korea exported 166,000 mt (13.2 percent of the total) to Mexico), 1.8 percent more than in July last year.
Although their participation is minimal, the annual increases in imports from Germany and Vietnam stand out with 70 percent each. Those of Taiwan decreased 31.8 percent.
In exports of finished steel products from companies in Mexico, the United States received 80.9 percent of the total with 199,000 mt, a figure that represented a drop of 40.4 percent or 135,000 mt compared to July last year.
Although the percentage participation is minimal, exports to Colombia decreased 96.2 percent, to Argentina they decreased 66.7 percent, to Canada they decreased 42.9 percent, and to Guatemala they decreased 27.8 percent.