Mexico's finished steel product exports to the world totaled 235,000 metric tons (mt) in October, down 3.3 percent year-over-year. This is the fifth-lowest volume in the last 47 months (since December 2020), according to Canacero statistics reviewed by SteelOrbis.
The biggest impact on exports continues to be the sale of rebars, which fell 76.0 percent in October; the volume of cold-rolled coil (CRC) fell 50.0 percent. Hot-rolled coil (HRC) also fell.
In the United States, the largest market for Mexican steel, volume fell 6.3 percent to 180,000 mt. Other less representative markets such as Guatemala fell 62.5 percent, the United Arab Emirates fell 57.6 percent, and Norway fell more than 70 percent.
On the import side, volume totaled 996,000 mt, 8.1 percent less, year-over-year in September. This is the sixth consecutive annual decline.
The contraction in imports of finished steel products to Mexico coincides with reports from SteelOrbis, in which some industrialists in Mexico have reported another slowdown in import permits by the Ministry of Economy.
The products with the greatest impact in October were alloy steel flats with an annual reduction of 11.4 percent and imports of steel bars by 10.7 percent. Also affected were the imports of galvanized sheet (HDG) and cold rolled coil (CRC).
By country, the greatest impact was with South Korea, the second largest seller of steel to Mexico, with a reduction of 22.1 percent in the imported volume. From Germany (the fifth largest partner) they decreased by 70.8 percent. Although they have a smaller market share, imports from Malaysia decreased by 47.8 percent and 45.5 percent of steel from Holland.
The trade flow of steel from Mexico with the world totaled 1.23 million mt, 7.2 percent less than in October of last year.
Mexico has a steel industry with a deficit. In October, the Mexican steel balance was negative by 761,000 mt, 9.5 percent less, year on year.
In the January-October period, exports of finished steel products totaled 2.49 million mt, 12.0 percent or 339,000 mt less than the period January-October of last year. Imports decreased 1.8 percent or 188,000 mt to total 10.51 million mt.