After two months of growth, apparent wire rod consumption in Mexico returned to negative territory in October with a decrease of 2.2 percent, year-over-year, to 226,000 metric tons (mt), according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
It is the sixth annual drop in the first 10 months of the year in wire rod consumption. Like consumption, production also decreased. In October, the annual drop was 17.8 percent, the ninth drop so far this year.
According to Canacero data, wire rod is not among the top 10 steel products in international trade.
In the accumulation of the first 10 months, wire rod consumption decreased 1.7 percent or 39,000 mt less, compared to the same period last year, totaling 2.21 million mt. Production decreased 14.7 percent or 362,000 mt to 2.09 million mt.
Information from the Ministry of Economy shows that the wire rod market in Mexico is dominated by DeAcero with 51 percent of the total production capacity in the country, Ternium with 18 percent, ArcelorMittal 16 percent, the steel company Talleres y Aceros (Tyasa ) 6 percent, Grupo Acerero 5 percent and Simec 4 percent.