The value of steel product imports to Mexico posted another new all-time high, totaling $3.28 billion in June, up 8.2 percent, year-over-year. It is the fifth time in Mexican steel history that imports have exceeded 3.0 billion, according to SteelOrbis' analysis of data from the national statistics office Inegi.
Mexican steel export value, meanwhile, registered the tenth consecutive annual drop. In June the value of exports was down 28.7 percent, year-over-year, to $1.09 billion, the 13th worst drop in the last 23 years. The decline is partially attributed to the current halt in production at AHMSA, which has a 5.5 million mt annual capacity.
In June, total trade flow totaled $4.37 billion, down 4.1 percent year-over-year. That value was 4.1 percent below the all-time record of $4.55 billion in June 2022.
The Mexican steel market is in a multi-decade trade deficit; in June, the deficit was $2.20 billion, 45.4 percent higher than the $1.51 billion in June last year.