The value of imports of finished steel products to Mexico decreased 13.6 percent in August, year-over-year, to $2.74 billion. It is the fourth consecutive annual decline, according to SteelOrbis' analysis of data from the national statistics office Inegi.
Exports of finished steel products remain on the negative trend of the last 24 months (since September 2022). In August, they decreased 11.0 percent, year-over-year, to $968 million.
Mexico's trade flow of finished steel products with the world reached $3.70 billion, down 12.9 percent, year-over-year.
In the January-August period, the value of exports decreased by 8.6 percent to total $7.87 billion, imports totaled $20.55 billion, 12.8 percent or $3.0 billion less than in the January-August period of last year.
In August, the trade balance of the Mexican steel industry was in deficit by $1.77 billion, 14.9 percent less than in the same month last year. In the January-August period, the deficit was $12.68 billion, 15.2 percent less than in the January-August period of 2023.