Mexico: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Mexico

The Mexican market for hot-rolled non-alloy steel wire rods rose significantly to $X in 2021, picking up by 6.6% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.3% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Mexico

In value terms, hot-rolled non-alloy steel wire rod production expanded modestly to $X in 2021 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.5% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 33% against the previous year. Hot-rolled non-alloy steel wire rod production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Mexico

Hot-rolled non-alloy steel wire rod exports from Mexico declined dramatically to X tons in 2021, reducing by -68.5% against 2020 figures. In general, exports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2019 with an increase of 466%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod exports plummeted to $X in 2021. Over the period under review, exports saw a deep reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 402%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) and Guatemala (X tons) were the main destinations of hot-rolled non-alloy steel wire rod exports from Mexico.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -2.0%).

In value terms, the United States ($X) and Guatemala ($X) were the largest markets for hot-rolled non-alloy steel wire rod exported from Mexico worldwide.

In terms of the main countries of destination, the United States, with a CAGR of +1.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the average export price for hot-rolled non-alloy steel wire rods amounted to $X per ton, increasing by 83% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.7% 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.

Average prices varied noticeably for the major external 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 amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Mexico

After three years of decline, overseas purchases of hot-rolled non-alloy steel wire rods increased by 170% to X tons in 2021. Overall, imports, however, continue to indicate a abrupt slump. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports soared to $X in 2021. In general, imports, however, showed a deep slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Mexico.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +61.8%), while purchases for the other leaders experienced a decline.

In value terms, Italy ($X), the United States ($X) and Spain ($X) constituted the largest hot-rolled non-alloy steel wire rod suppliers to Mexico, together accounting for 99.9% of total imports.

Italy, with a CAGR of +50.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, with a decrease of -16.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 54%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($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 (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform