Apparent consumption of finished steel products in the Mexican market in August decreased 11.7 percent, year-over-year, to 2.28 million metric tons (mt). It is the fourth consecutive annual decline and the third-worst contraction in at least the past 34 months, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis.
Finished steel product manufacturing in August totaled 1.43 million mt, down 13.0 percent, year-over-year. It is the seventh consecutive annual decline and was the second-worst percentage decline in at least the past 34 months (since November 2021).
The volume manufactured in August was also the second lowest in the past 34 months (since November 2021).
In the cumulative period through August, consumption decreased by 3.9 percent to 18.50 million mt and the production of finished steel products decreased by 8.5 percent to 12.0 million mt.