Mexico: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Mexico

After two years of growth, the Mexican iron and steel wire market decreased by -X% to $X in 2020. The market value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 when the market value increased by X% year-to-year. Iron and steel wire consumption peaked at $X in 2014; however, from 2015 to 2020, consumption failed to regain the momentum.

Production of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Mexico

In value terms, iron and steel wire production amounted to $X in 2020 estimated in export prices. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when the production volume increased by X% y-o-y. As a result, production reached the peak level of $X. from 2009 to 2020, production growth failed to regain the momentum.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from Mexico

In 2020, approx. X tons of wire of iron or non-alloy steel (stainless steel or other alloy steel) were exported from Mexico; growing by X% on 2019. Overall, total exports indicated temperate growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Exports peaked at X tons in 2017; however, from 2018 to 2020, exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports skyrocketed to $X in 2020. Over the period under review, total exports indicated modest growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2011 when exports increased by X% y-o-y. As a result, exports attained the peak of $X. from 2012 to 2020, the growth exports remained at a lower figure.

Exports by Country

The U.S. (X tons) was the main destination for iron and steel wire exports from Mexico, with a approx. X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to the U.S. stood at +X%.

In value terms, the U.S. ($X) also remains the key foreign market for iron and steel wire exports from Mexico.

From 2007 to 2020, the average annual growth rate of value to the U.S. totaled +X%.

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2020, shrinking by -X% against the previous year. In general, the export price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per ton. from 2012 to 2020, the growth in terms of the average export prices failed to regain the momentum.

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

From 2007 to 2020, the rate of growth in terms of prices for the U.S. amounted to -X% per year.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into Mexico

In 2020, after two years of growth, there was significant decline in overseas purchases of wire of iron or non-alloy steel (stainless steel or other alloy steel), when their volume decreased by -X% to X tons. Overall, total imports indicated a noticeable expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Over the period under review, imports hit record highs at X tons in 2019, and then shrank rapidly in the following year.

In value terms, iron and steel wire imports reduced sharply to $X in 2020. Over the period under review, imports, however, recorded measured growth. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

The U.S. (X tons), South Korea (X tons) and China (X tons) were the main suppliers of iron and steel wire imports to Mexico, together comprising X% of total imports. Japan, Spain, Germany, Canada, India, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further X 2007 to 2020, the biggest increases were in Vietnam, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) constituted the largest supplier of iron and steel wire to Mexico, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2007 to 2020, the average annual growth rate of value from the U.S. was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and China (+X% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, dropping by -X% against the previous year. Overall, the import price, however, recorded a mild increase. The growth pace was the most rapid in 2011 when the average import price increased by X% year-to-year. The import price peaked at $X per ton in 2017; however, from 2018 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Vietnam, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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