The volume of the commercial flow of the Mexican steel industry remains depressed, decreasing 10.1 percent in April, year-over-year, to 1.17 million metric tons (mt). Mexican exports plummeted more than 40 percent, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
The Mexican market registered in April the second largest imported volume of finished steel products in the last six months with 902,000 mt, 6.9 percent more than in the same month last year. This volume represented 77.1 percent of Mexico's steel trade flow.
Exports of steel manufactured in Mexico decreased 41.4 percent, year-over-year, in April, totaling 268,000 mt. That volume exported in April broke the floor of 300,000 mt and is the lowest level in at least the last six months.
Data on Mexico's steel industry foreign trade show that in April, for every ton of finished steel products exported, 3.4 tons were imported, mainly from the United States (35.9 percent of the total), Japan (18.4 percent), South Korea (15.4 percent), China (6.1 percent) and Germany (4.8 percent of the total). Those five countries concentrated 80.6 percent of imports.
By volume, imported US steel decreased 0.6 percent, year-over-year, in April to 324,000 mt. From Vietnam it decreased 60.0 percent to 8,000 mt, from China it decreased 26.7 percent to 55,000 mt, and from South Korea it decreased 18.7 percent to 139,000 mt.
In contrast, imports from Japan rose 64.4 percent to 166,000 mt, from Germany they rose 95.5 percent to 43,000 mt, and from Taiwan they grew 44.4 percent to 13,000 mt.
The main destination of finished Mexican steel products in April was the United States with 79.8 percent of the total and Colombia with 5.2 percent. Those two countries concentrated 85.0 percent.
In April, year-over-year, products exported to the United States decreased 30.6 percent to 213,000 mt and to Colombia they decreased 60.0 percent to 14,000 mt.