Mexico’s imports of finished steel products registered a significant increase of 51.2 percent, year-over-year, in June to total 1.19 million metric tons (mt). It is the third time in at least eight months that 1.0 million mt has been exceeded, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
In contrast, the export of finished steel products posted the worst recent drop, plummeting 44.6 percent, year-over-year, to 258,000 mt. It is the eighth consecutive annual drop, it is the steepest drop and the smallest volume since at least November of last year.
In June, the flow of international trade in finished steel products from Mexico totaled 1.45 million mt, 15.6 percent more than in the same month last year. It is the second annual increase in at least eight months.
Imports contributed 82.2 percent of the total flow of international trade. In at least the last eight months, it is the third time that the million mt imported has been exceeded, the first was in March with 1.03 million mt, in May it was 1.20 million mt and the current one is 1.19 million mt.
The four main sellers of steel to Mexico contributed 76.8 percent of the total. The United States exported 394,000 mt to Mexico (33.1 percent of the total imported), 34.0 percent more than in June last year.
Japan exported 215,000 mt (18.1 percent of the total) to Mexico, 68.0 percent more, China sold 166,000 mt (13.9 percent of the total), 260.9 percent more, and South Korea exported 139,000 mt (11.7 percent of the total) to Mexico), 11.2 percent more compared to the sixth month of last year.
In exports of finished steel products from companies in Mexico, the United States received 81.4 percent of the total with 210,000 mt, a figure that represented a drop of 38.2 percent compared to June of last year.