Mexico: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Mexico

The Mexican market for hot-rolled steel bars and rods rose to $X in 2021, increasing by 1.7% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 7.8% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Hot-Rolled Steel Bars and Rods in Mexico

In value terms, hot-rolled steel bar and rod production contracted slightly to $X in 2021 estimated in export price. In general, production saw a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of 2.6%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Mexico

In 2021, shipments abroad of hot-rolled steel bars and rods increased by 54% to X tons, rising for the second year in a row after six years of decline. Overall, exports, however, faced a abrupt curtailment. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel bar and rod exports surged to $X in 2021. Over the period under review, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for hot-rolled steel bar and rod exports from Mexico, with a 82% share of total exports. Moreover, hot-rolled steel bar and rod exports to the United States exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. Guatemala (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-28.0% per year) and Guatemala (-7.7% per year).

In value terms, the United States ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Mexico, comprising 88% of total exports. The second position in the ranking was held by Guatemala ($X), with a 6.5% share of total exports. It was followed by Colombia, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+3.1% per year) and Colombia (-25.6% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, declining by -20.3% against the previous year. Over the period under review, the export price, however, saw prominent growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 57% against the previous year. The export price peaked at $X per ton in 2020, and then declined rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+46.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Mexico

After two years of decline, supplies from abroad of hot-rolled steel bars and rods increased by 77% to X tons in 2021. Overall, imports, however, saw a perceptible shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports surged to $X in 2021. Over the period under review, imports, however, showed a pronounced decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of hot-rolled steel bar and rod to Mexico, accounting for a 47% share of total imports. Moreover, hot-rolled steel bar and rod imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-6.9% per year) and China (-1.1% per year).

In value terms, the United States ($X) constituted the largest supplier of hot-rolled steel bars and rods to Mexico, comprising 51% of total imports. The second position in the ranking was taken by Canada ($X), with an 18% share of total imports. It was followed by Germany, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-5.9% per year) and Germany (+16.2% per year).

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, declining by -7.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2015 an increase of 36% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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