Mexican exports of steel to the US in the accumulated period of January to August this year rose 1.8 percent, year-over-year, according to a media report from El Economista.
Mexico exported 2.1 million mt of steel in the January-August period. In terms of value, Mexican exports of steel to the US reached $1.5 billion in value, 8.5 percent down, year-over-year.
El Economista noted Mexico’s increased its market share in terms of steel exports to the US, from 11.1 percent in Jan-August 2019 to 14.2 percent in Jan-Aug this year.
The media report noted the increased Mexican steel exports to the US took place while the three North American countries ratified the USMCA agreement. The new local content rule has reportedly favored steel exports from Mexico.