Mexico, currently the 14th largest steel producer and the 10th largest steel consumer globally in 2022, is poised to surpass Italy and secure the 9th position in steel consumption by the end of 2023.
In 2022, the United States emerged as a key contributor to Mexico's steel industry, exporting a substantial 3 million tons of ferrous scrap to the nation. This export volume positioned Mexico as the second-largest destination for US ferrous scrap, trailing only behind Türkiye.
As of the first eight months of 2023, Mexico has already imported 1.66 million tons of ferrous scrap, with a substantial 1.3 million tons sourced directly from the United States. This robust trade relationship underscores the critical role the US plays in meeting Mexico's burgeoning demand for steel production materials.
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