Mexico: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Mexico

The Mexican hot-rolled free-cutting steel market skyrocketed to $X in 2021, rising by 81% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a deep downturn. Hot-rolled free-cutting steel consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from Mexico

In 2021, overseas shipments of hot-rolled bars in free-cutting steels increased by 88% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports posted measured growth. The growth pace was the most rapid in 2020 with an increase of 185%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports surged to $X in 2021. In general, exports posted tangible growth. The pace of growth was the most pronounced in 2020 with an increase of 286% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Honduras (X tons), Colombia (X tons) and the United States (X tons) were the main destinations of hot-rolled free-cutting steel exports from Mexico, with a combined 86% share of total exports. These countries were followed by Panama and Costa Rica, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +1,311.0%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X), the United States ($X) and Colombia ($X) were the largest markets for hot-rolled free-cutting steel exported from Mexico worldwide, with a combined 84% share of total exports. These countries were followed by Panama and Costa Rica, which together accounted for a further 16%.

Among the main countries of destination, Panama, with a CAGR of +1,029.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average hot-rolled free-cutting steel export price amounted to $X per ton, reducing by -7.3% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 137%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Honduras ($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 Costa Rica (+43.2%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Imports

Imports into Mexico

Hot-rolled free-cutting steel imports into Mexico soared to X tons in 2021, with an increase of 47% against the year before. Over the period under review, imports, however, showed a deep slump. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a deep slump. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of hot-rolled free-cutting steel to Mexico, with a 76% share of total imports. Moreover, hot-rolled free-cutting steel imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was taken by Canada (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1,171.2% per year) and Canada (+7.4% per year).

In value terms, the United States ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to Mexico, comprising 72% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by Canada, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1,274.9% per year) and Canada (+9.8% per year).

Import Prices by Country

The average hot-rolled free-cutting steel import price stood at $X per ton in 2021, surging by 37% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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