Mexico: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Mexico

In 2021, the Mexican flat-rolled steel products market increased by 16% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Flat-Rolled Steel Products Exports

Exports from Mexico

In 2021, the amount of flat-rolled products of iron or non-alloy steel exported from Mexico reduced rapidly to X tons, which is down by -67.9% compared with the previous year's figure. Overall, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 405%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, flat-rolled steel products exports declined markedly to $X in 2021. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of 330%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for flat-rolled steel products exports from Mexico, with a 54% share of total exports. Moreover, flat-rolled steel products exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), fourfold. The third position in this ranking was taken by El Salvador (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+97.7% per year) and El Salvador (+4.6% per year).

In value terms, the United States ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Mexico, comprising 68% of total exports. The second position in the ranking was held by El Salvador ($X), with a 7.9% share of total exports. It was followed by South Korea, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+3.5% per year) and South Korea (+88.9% per year).

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, growing by 85% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 Paraguay (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Mexico

Flat-rolled steel products imports into Mexico skyrocketed to X tons in 2021, rising by 22% compared with 2020 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, flat-rolled steel products imports reached $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 19%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main suppliers of flat-rolled steel products imports to Mexico, together accounting for 55% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +19.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) were the largest flat-rolled steel products suppliers to Mexico, with a combined 58% share of total imports.

China, with a CAGR of +22.5%, saw the highest growth rate of the value of imports, in terms of 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 flat-rolled steel products import price stood at $X per ton in 2021, dropping by -8.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 49%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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