Mexico: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Mexico

In 2022, the Mexican steel stranded wire market increased by 0.6% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Steel stranded wire consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Production in Mexico

In value terms, steel stranded wire production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +5.3% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Steel Stranded Wire Exports

Exports from Mexico

Steel stranded wire exports from Mexico reduced markedly to X tons in 2022, waning by -30.3% on 2021 figures. Overall, exports, however, posted a modest increase. The pace of growth was the most pronounced in 2021 with an increase of 75% against the previous year. As a result, the exports reached the peak of X tons, and then fell sharply in the following year.

In value terms, steel stranded wire exports soared to $X in 2022. Over the period under review, exports, however, saw a pronounced increase. The pace of growth was the most pronounced in 2018 when exports increased by 34%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for steel stranded wire exports from Mexico, accounting for a 90% share of total exports. It was followed by Colombia (X tons), with a 2.6% share of total exports. Costa Rica (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-0.2% per year) and Costa Rica (+5.6% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Mexico, comprising 93% of total exports. The second position in the ranking was held by Peru ($X), with a 1.7% share of total exports. It was followed by Costa Rica, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-5.9% per year) and Costa Rica (+9.6% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, with an increase of 71% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Mexico

In 2022, supplies from abroad of iron or steel stranded wire, ropes and cables increased by 5.5% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a pronounced downturn. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, steel stranded wire imports rose remarkably to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 40%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest steel stranded wire supplier to Mexico, accounting for a 44% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+58.5% per year) and Indonesia (+28.1% per year).

In value terms, the largest steel stranded wire suppliers to Mexico were China ($X), the United States ($X) and Indonesia ($X), with a combined 67% share of total imports. Vietnam, South Korea, Malaysia and Turkey lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, Vietnam, with a CAGR of +63.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, surging by 8.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2021 when the average import price increased by 18% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($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 (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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