The apparent consumption of hot rolled coils (HRC) in Mexico in March stagnated at the same volume as March of last year, standing at 445,000 metric tons (mt). This stops the dynamic double-digit growth of the last nine consecutive months, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
In the last 14 months, HRC consumption in Mexico grew 13 times, all in double digits. In June 2023, it registered the highest growth rate with 43.8 percent.
Regarding HRC production in Mexico, in March for the fourth consecutive time it overtook rod production as the most manufactured finished steel product in the country. In the given month, HRC production amounted to 318,000 mt, down 8.1 percent year-over-year. Thus the positive trend of the last seven months was broken.
HRC imports increased 18.8 percent to 139,000 mt. In March, it was the fourth product with the highest imported volume, surpassed by alloy steel flats, galvanized sheet (HDG) and cold rolled coils (CRC).
Despite the stagnation of consumption, HRC exports plummeted 89.9 percent or 80,000 mt to a total of 9,000 mt in March.
In the first three months of the year, consumption increased 15.8 percent or 186,000 mt to 1.36 million mt. Production increased 12.7 percent or 116,000 mt, totaling 1.03 million mt. Imports increased 22.8 percent to 375,000 mt and exports decreased 63.7 percent to 43,000 mt.
Industry data shows that HRC producers in Mexico are Altos Hornos de México (AHMSA, paralyzed by insolvency), Tyasa, Ternium and ArcelorMittal.