Mexico reduced steel production and increased imports in 2023

According to the Mexican Chamber of Steel Industry (Canacero), in 2023, domestic steel production in Mexico amounted to 16.2 million tons, which was 12.2% less than a year earlier. The main reason for the decline is cited as the bankruptcy of Altos Hornos de Mexico (AHMSA), one of the country's largest steel producers, in January 2023.

During the same time period, the consumption of steel products in Mexico increased due to the construction of industrial facilities oriented towards the US market and the implementation of infrastructure projects.

The imports reached 12.52 million in 2023, which is 21.3% higher than in 2022, of which 10.35 million tons accounted for finished products. Almost a third of imports came from the US, and approximately 40% came from South Korea, Japan, and China.

On the other hand, in 2023, Mexica’s steel exports decreased by 32.3% compared to the previous year, amounting to 4.98 million tons. More than 85% of exports were shipped to the United States.