News
05/12/25
Mexico steel output, demand down year-to-date Oct
Houston, 5 December (Argus) — Mexican steel production and consumption fell
year-to-date October, extending an almost two-year slide amid an ongoing demand
glut in the country. Production fell by 9pc to 14mn metric tonnes (t)
year-to-date October from a year earlier, according to steel chamber Canacero.
The most-produced products were rebar, hot-rolled coil (HRC) and hot-dipped
galvanized (HDG). Year-to-date October consumption declined by 10pc to 21mn t.
The most-consumed products were HDG, HRC and cold-rolled coil (CRC).
Year-to-date October exports decreased by 16pc to 2mn t, largely pressured by a
27pc drop in steel exports to the US. Mexico, in turn, has turned to Canada and
Central America as steel importers this year, with Canada's share rising by 35pc
year-to-date October and Guatemala's by 49pc in the same period. Imports fell by
13pc to 9.1mn t year-to-date October from a year earlier. The Mexican steel
market has faced falling demand since early 2024 on economic uncertainty and
pressure wrought from the US's 50pc import tariffs, essentially cutting off
Mexico's closest steel trading partner. Recovery for flat steel demand is not
expected until at least mid-2026, when the US-Mexico-Canada Agreement comes up
for re-negotiation. Long products could see a boost in the first quarter,
however, as the government proposed spend on roads and rail in the 2026 budget.
By Marialuisa Rincon Mexican finished steel YTD 000s of metric tonnes, except ±%
Oct-25 Oct-24 Difference ±% Production Rebar 3,171 3,257 -86 -2.6% Hot-rolled
coil (HRC) 2,735 3,114 -379 -12.2% Hot-dipped galvanized (HDG) 2,633 2,844 -211
-7.4% Total* 14,039 15,372 -1,333 -8.7% Consumption HDG 3,806 3,872 -66 -1.7%
HRC 3,619 4,290 -671 -15.6% Cold-rolled coil (CRC) 3,532 4,097 -565 -13.8% Total
21,059 23,390 -2,331 -10% Imports by country US 3,318 3,314 4 0.1% Japan 1,453
1,541 -88 -5.7% South Korea 1,433 1,698 -265 -15.6% Imports by product Alloyed
1,680 1,544 136 8.8% HDG 1,337 1,427 -90 -6.3% CRC 1,092 1,515 -423 -27.9% Total
9,100 10,506 -1,406 -13.4% Exports by country US 1,386 1,897 -511 -26.9% Canada
131 97 34 35.1% Guatemala 85 57 28 49.1% Exports by product Seamless tube 560
564 -4 -0.7% Wire 252 272 -20 -7.4% Tube with seams ≤ 406.4 mm 219 274 -55
-20.1% Total 2,080 2,488 -408 -16.4% Source: Canacero Totals include other
products than those listed in this spreadsheet. Send comments and request more
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