Wire rod production in Mexico recorded its seventh drop of the year in July with a decrease of 32.0 percent, year-over-year, to 174,000 metric tons (mt). It is the lowest volume so far this year, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
Meanwhile, apparent consumption of wire rod also recorded the steepest decline so far this year. In July it decreased 20.1 percent, year-over-year, to 191,000 mt.
In the accumulated seven months, consumption decreased 6.2 percent or 102,000 mt less, compared to the same period last year, totaling 1.53 million mt. Production decreased 17.9 percent or 322,000 to 1.48 million mt.
Information from the Ministry of Economy shows that the wire rod market in Mexico is dominated by DeAcero with 51 percent of the total production capacity in the country, Ternium has 18 percent, ArcelorMittal 16 percent, and the steel company Talleres y Aceros ( Tyasa) has 6 percent, Grupo Acerero 5 percent and Simec (through Acero DM) 4 percent.