Rebar, the main finished product of steel manufactured in Mexico, registered its third consecutive annual decline in June, dropping 1.1 percent, year-over-year, to 347,000 metric tons (mt), according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
Rebar is the finished steel product with the highest production in Mexico. In June it represented 22.1 percent of the total production, below the 25.0 percent of last February.
Apparent consumption of rebar, after a setback in May, increased 7.5 percent in June, year-over-year, to 329,000 mt. Contrary to production, rebar is the fourth finished steel product with the highest consumption in Mexico.
In exports, the volume of rebar decreased 50.0 percent totaling 23,000 mt, the second lowest level so far this year. The lowest was in May with 21,000 mt and in May of last year 77,000 mt were exported.
Yesterday, SteelOrbis published that the Mexican Grupo Acerero asked the Ministry of Economy to start a Binational Panel under the USMCA for the dumping margin that the US Department of Commerce decreed to that company of 16.28 percent. That is 7.1 times greater than that of Grupo DeAcero and 2.8 times greater than the rest of its commercial rivals in the export of rebar to the US market.
In the cumulative January-June, rebar production decreased 1.4 percent, year-over-year, to 2.22 million mt and consumption increased 8.8 percent to 2.08 million mt.