Consumption of finished steel products in Mexico will decrease by 5.0 percent, year over year, in 2024 and by 2025 it will grow by 6.7 percent, according to estimates and projections from the Latin American Steel Association (Alacero) shown at the recent Alacero Summit 2024 held in Buenos Aires, Argentina.
With these estimates, steel consumption in Mexico will go from 28.5 million metric tons (mt) in 2023 to 27.1 million mt in 2024 and 28.9 million mt in 2025.
Data from the World Steel Association places Mexico as the tenth largest consumer of steel in the world, with its most recent statistics. That position is circumstantial, because Germany and Brazil have lost strength in recent years.
In 2021, Mexico's consumption was 25.5 million mt, surpassed by Brazil's 26.3 million mt and Germany's 35.5 million mt. In 2023, Mexico with 28.5 million mt surpassed those two countries.
The most recent data from the Mexican Chamber of the Iron and Steel Industry (Canacero) reviewed by SteelOrbis, shows an annual reduction of 3.9 percent in the consumption of finished steel products in the January-September period to 18.5 million mt.
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Vietnam Steel by Hoa Sen Group
