For the fifth consecutive time, imports of finished steel products to Mexico registered a strong double-digit increase, now 42.8 percent, year-over-year, in September to 1.09 million metric tons (mt). It is the fifth consecutive time 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 registered a drop of 17.9 percent, year-over-year in September to 288,000 mt. It is the 11th consecutive annual drop since at least November of last year.
In September, the flow of international trade in finished steel products from Mexico totaled 1.38 million mt, 23.7 percent or 264,000 mt more than the same month last year. It is the fifth consecutive annual increase in at least nine months and is the highest growth rate in at least the last 11 months, according to data reviewed by SteelOrbis.
The four main steel sellers to Mexico contributed 70.8 percent of the total. The United States exported 327,000 mt to Mexico (30.0 percent of the total imported), 9.4 percent more than the volume exported to Mexico in September 2022.
South Korea exported 179,000 mt to Mexico (16.4 percent of the total), 18.5 percent more; Japan sold 175,000 mt (16.0 percent of the total), 237 percent more, and China exported 91,000 mt to Mexico (8.3 percent of the total), 28.2 percent more than in September of last year.
In exports of finished steel products from companies in Mexico, the United States received 69.1 percent of the total with 199,000 mt, a figure that represented an annual decrease of 22.9 percent or 59,000 mt compared to September of last year.
Exports totaled 288,000 mt in September, 17.9 percent or 63,000 mt less compared to October of last year.
In the accumulated January-September period, imports totaled 9.59 million mt, 20 percent or 1.6 million mt more compared to the same period last year. Exports totaled 2.58 million mt, 34.1 percent less in the period.