The Mexican Chamber of Iron and Steel released data indicating a 14% reduction in Mexico’s HRC consumption for May, totaling 369,000 tonnes. This downturn stands in stark contrast to the consumption figures from April, which peaked at 510,000 tonnes—the highest in over two years.
Analyzing the trend over the last 17 months reveals a substantial expansion in consumption, with a notable spike of 44.6% growth in June of the previous year. Despite these gains, production in May decreased by 8% to 264,000 tons, marking it as the least productive month within the last ten months.
Looking at the cumulative data from the start of the year to May, there is a 10.9% increase in consumption, reaching 2.24 million tonnes. Production figures for the same period also show an increase of 6.4%, totaling 1.62 million tonnes. Trade dynamics also shifted, with imports expanding by 21% to 692,000 tonnes. However, exports saw a significant reduction, decreasing by 30.9% to only 55,000 tonnes. This data indicates that the steel industry in Mexico is entering a period of stagnation in the short term. The increase in imports is playing a key role in meeting the country's steel needs during this period.
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