Finished steel imports to Mexico registered a strong double-digit increase in August, up 26.4 percent, year-over-year, to 1.21 million metric tons (mt). It is the fourth consecutive time that 1.0 million mt has been exceeded, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
In contrast, exports of finished steel products recorded the second-worst recent decline with a 43.4 percent drop year-over-year in August to 257,000 mt. It is the tenth consecutive annual drop and the third lowest exported volume, at least since November of last year.
In August, the flow of international trade in finished steel products from Mexico totaled 1.46 million mt, 3.9 percent more than the same month last year.
The four main steel sellers to Mexico contributed 70.8 percent of the total. The United States exported 375,000 mt to Mexico (31.1 percent of the total imported), 16.1 percent more than the volume sold in August 2022.
South Korea exported 210,000 mt to Mexico (17.4 percent of the total), 10.5 percent more, Japan sold 164,000 mt (13.6 percent of the total), 10.8 percent more, and China exported 104,000 mt to Mexico (8.6 percent of the total), 23.8 percent more compared to August of last year.
In exports of finished steel products from companies in Mexico, the United States received 79.4 percent of the total with 204,000 mt, a figure that represented a decrease of 38.9 percent or 130,000 mt compared to August of last year.