Mexico's rebar consumption up in July

In July, Mexico's rebar consumption increased by 11.6% to 328 metric tons, marking the second increase in the year. Rebar is the fourth largest finished steel product in Mexico and the first in terms of production.

Production fell 1.1% to 345,000 tons, marking the fourth consecutive annual decline. Despite this, rebar production accounted for 23.9% of total steel product output in the seventh month of this year.

Rebar exports fell 58.2%, down from 32,000 tons to 23,000 tons. In May 2023, the lowest export volume was 21 thousand tons, compared to 77 thousand tons in May last year.