Liquid steel production in Mexico in February decreased 4.8 percent, year-over-year, to 1.25 million metric tons (mt). In addition to the fact that it is the fifteenth consecutive annual contraction, the production volume is the lowest in at least 40 months, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
The most recent annual data from The World Steel Association, for 2022, ranks Mexico as the world's fourteenth largest steel producer. However, these data still include the production of the giant Altos Hornos de México (AHMSA) with an annual production capacity of 5.5 million mt, which stopped producing since January 2023 due to insolvency.
In the Mexican liquid steel market, consumption totaled 2.6 million mt in February, 7.0 percent more, year-over-year. It is the first time, after eight months of double-digit growth, that the increase was single digit.
On the finished steel products side, consumption in the Mexican market increased 7.3 percent, year-over-year, to 2.23 million mt, the eleventh consecutive annual increase. In production, the positive trend of the last three months was broken, decreasing 0.6 percent in February, totaling 1.57 million mt.
In the accumulated period of January-February, liquid steel production totaled 2.62 million mt, 5.0 percent less compared to the same period last year. Meanwhile, consumption increased 9.0 percent to 5.32 million mt.
In the first two months, the production of finished steel products increased 1.1 percent to 3.28 million mt and consumption grew 9.1 percent to 4.70 million mt, in the reference period.