Mexico: Base Metal Hook Market 2025

Base Metal Hook Market Size in Mexico

The Mexican base metal hook market declined markedly to $X in 2022, which is down by -20.8% against the previous year. In general, consumption saw a relatively flat trend pattern. Base metal hook consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Base Metal Hook Production in Mexico

In value terms, base metal hook production reduced slightly to $X in 2022 estimated in export price. In general, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Mexico

Base metal hook exports from Mexico skyrocketed to X tons in 2022, increasing by 236% compared with 2021 figures. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, base metal hook exports soared to $X in 2022. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for base metal hook exports from Mexico, with a 95% share of total exports. Moreover, base metal hook exports to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +38.1%.

In value terms, the United States ($X) remains the key foreign market for base metal hooks, eyes and eyelets exports from Mexico, comprising 95% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +36.0%.

Export Prices by Country

In 2022, the average base metal hook export price amounted to $X per ton, with a decrease of -36.1% against the previous year. Overall, the export price, however, recorded notable growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 43%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+4.2%).

Base Metal Hook Imports

Imports into Mexico

In 2022, overseas purchases of base metal hooks, eyes and eyelets increased by 2.2% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 130%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, base metal hook imports amounted to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 60% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of base metal hook imports to Mexico, with a combined 88% share of total imports. South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 8.3%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +39.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) were the largest base metal hook suppliers to Mexico, with a combined 82% share of total imports.

South Korea, with a CAGR of +36.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2022, with an increase of 7.4% against the previous year. Overall, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 54% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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