In July, the apparent consumption of rebar in Mexico experienced a notable 11.6 percent year-over-year surge, reaching a total of 328,000 metric tons (mt). This marks the second consecutive annual increase and the sixth such rise this year, as per data from the Mexican Chamber of the Iron and Steel Industry (Canacero), as reported by SteelOrbis.
Rebar holds the distinction of being the fourth largest finished steel product in terms of consumption in Mexico and claims the top spot in production.
In July, the production of rebar dipped by 1.1 percent year-on-year, reaching 345,000 mt. This represents the fourth consecutive annual decline. Nevertheless, in the seventh month of the year, rebar production contributed significantly, constituting 23.9 percent of the total production of finished steel products. This stands as the second-highest production ratio recorded this year, surpassed only by the 25 percent seen in February.
On the export front, the volume of rebar witnessed a substantial 58.2 percent decrease, dropping by 32,000 mt to a total of 23,000 mt. This marks the second-lowest level recorded thus far in the year, with May being the lowest at 21,000 mt, while in May of the previous year, 77,000 mt were exported.
In August, SteelOrbis reported that the Mexican Grupo Acerero had requested the Ministry of Economy to initiate a Binational Panel under the USMCA due to the sizable dumping margin imposed by the United States Department of Commerce, which amounted to 16.28 percent for the company. This figure is 7.1 times greater than that of Grupo DeAcero and 2.8 times greater than the margin imposed on its competitors in the rebar export market to the United States.
It's noteworthy that Canacero's list of the top 10 most imported finished steel products does not include rebar.
In the cumulative data from January to July, rebar consumption displayed a robust 9.2 percent year-over-year increase, reaching 2.41 million mt, while production decreased slightly by 1.4 percent to 2.56 million mt.
According to industry data, the key steel producers manufacturing rebar in Mexico include ArcelorMittal, DeAcero, Gerdau Corsa, Grupo Acerero, Grupo Simec (through Aceros San Luis, Aceros DM, and Siderúrgica del Golfo, Sigosa, among others), Ternium, and Tyasa.
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