Mexican steel imports and exports fell sharply on the year in January in response to both the US' and Mexico's own steel import tariffs, the latest data from steel chamber Canacero showed.
- January Mexican steel imports fell by 21pc to 793,000 metric tonnes (t) in January year on year after Mexico imposed import tariffs on more than 1,400 goods from non-trade treaty countries on 1 January. Tariffs on more than almost 300 steel and scrap grades rose to 35pc from a previous range of 0-35pc, depending on the specific grade. Mexico also imposed as low as 20pc and up to 50pc import tariffs on a handful of specific steel and scrap grades.
- Steel exports fell by 47pc to 166,000t in January compared with January 2025, pressured mainly by the US' announcement of 25pc steel import tariffs on 20 January, which were imposed on 12 March then doubled to 50pc on 30 May. The US remained Mexico's largest buyer of steel but its share of total Mexican steel exports fell to 43pc in January from 79pc in January 2025.
- Mexican steel production extended a two-year long slide, falling by 16pc to 1.343mn t in January compared to January 2025. Production has been continually hampered by tepid demand since early 2024.
- Steel consumption also extended losses, falling by 14pc to 1.97mn t in January from the prior-year month. Demand has been pressured since early 2024 on political, then economic, uncertainty and trade tensions with the US.
| Mexican finished steel YTD | 000s of metric tonnes, except ±% | |||
| Jan-26 | Jan-25 | Difference | ±% | |
| Production | ||||
| Hot-rolled coil (HRC) | 325 | 328 | -3 | -0.9% |
| Rebar | 283 | 357 | -74 | -20.7% |
| Cold-rolled coil (CRC) | 229 | 288 | -59 | -20.5% |
| Total* | 1343 | 1598 | -255 | -16% |
| Consumption | ||||
| HRC | 397 | 439 | -42 | -9.6% |
| Hot-dipped galvanized (HDG) | 341 | 383 | -42 | -11% |
| CRC | 323 | 380 | -57 | -15% |
| Total | 1970 | 2290 | -320 | -14% |
| Imports by country | ||||
| US | 298 | 346 | -48 | -13.9% |
| Japan | 128 | 168 | -40 | -23.8% |
| South Korea | 99 | 133 | -34 | -25.6% |
| Imports by product | ||||
| Alloyed | 168 | 181 | -13 | -7.2% |
| HDG | 116 | 150 | -34 | -22.7% |
| CRC | 96 | 119 | -23 | -19.3% |
| Total | 793 | 1004 | -211 | -21% |
| Exports by country | ||||
| US | 71 | 248 | -177 | -71.4% |
| Colombia | 18 | 5 | 13 | 260% |
| Canada | 17 | 14 | 3 | 21.4% |
| Exports by product | ||||
| Seamless tube | 66 | 63 | 3 | 4.8% |
| Rebar | 16 | 21 | -5 | -23.8% |
| Structural profiles | 14 | 21 | -7 | -33.3% |
| Total | 166 | 312 | -146 | -46.8% |
| Source: Canacero | ||||
| Totals include other products than those listed in this spreadsheet. | ||||
