Mexico: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Mexico

After three years of decline, the Mexican market for raw steel and steel semi-finished products increased by 3.1% to $X in 2021. In general, consumption continues to indicate a noticeable slump. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Mexico

In value terms, production of raw steel and steel semi-finished products amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2014 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production of growth remained at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Mexico

In 2021, exports of raw steel and steel semi-finished products from Mexico was estimated at X tons, surging by 5% on the previous year's figure. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 98% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products reduced to $X in 2021. Overall, exports posted mild growth. The most prominent rate of growth was recorded in 2018 when exports increased by 90% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of raw steel and steel semi-finished products from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +14.1%.

In value terms, the United States ($X) also remains the key foreign market for raw steel and steel semi-finished products exports from Mexico.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +9.0%.

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2021, waning by -10% against the previous year. Overall, the export price saw a noticeable shrinkage. The growth pace was the most rapid in 2014 when the average export price increased by 11% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for South Korea amounted to +20.0% per year.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Mexico

In 2021, supplies from abroad of raw steel and steel semi-finished products decreased by -50.1% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports saw a slight decline. The most prominent rate of growth was recorded in 2019 when imports increased by 590% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2020, and then fell sharply in the following year.

In value terms, imports of raw steel and steel semi-finished products dropped remarkably to $X in 2021. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 319%. Imports peaked at $X in 2020, and then contracted notably in the following year.

Imports by Country

In 2021, Brazil (X tons) was the main raw steel and steel semi-finished products supplier to Mexico, with a 91% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.7% per year) and Ukraine (-83.2% per year).

In value terms, Brazil ($X) constituted the largest supplier of raw steel and steel semi-finished products to Mexico, comprising 84% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Brazil stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.3% per year) and Ukraine (-68.1% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, falling by -3.3% against the previous year. Over the period under review, the import price showed a perceptible setback. The growth pace was the most rapid in 2013 an increase of 16%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Ukraine ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+89.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :