Apparent consumption of hot rolled coils (HRC) in Mexico increased 16.6 percent, year-over-year, in July to 408,000 metric tons (mt), the second lowest volume in at least the last seven months, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
The increase in volume was 58,000 mt, equivalent to 7.9 days of HRC national production, according to July production levels. It is the fifth consecutive month that HRC remains the finished steel product with the highest consumption in Mexico, six times so far this year.
HRC production in Mexico totaled 227,000 mt, down 22.0 percent, year-over-year. This equates to 11.1 mt average per day. So far this year, the production volume for July is the second lowest, only surpassed by February's 223,000 mt. In that period, January registered the highest volume with 347,000 mt.
National production contributed 55.6 percent of total consumption, 27.5 percentage points less compared to the same month last year.
HRC international trade in Mexico increased 70.5 percent to 208,000 mt. This increase is explained by the explosive growth of 115.6 percent in HRC imports to 194,000 mt. In contrast, exports decreased 56.3 percent to 14,000 mt.
In the accumulated January-July, consumption increased 15.9 percent to 2.92 million mt, production decreased 3.4 percent to 2.05 million mt. Trade flow decreased 1.1 percent to 1.06 million mt, exports decreased 70.9 percent to 99,000 mt, and imports increased 31.4 percent to 963,000 mt.