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Steel News January 30, 2025 03:30:16 PM

CANACERO: U.S. Steel Exports Pose Threat to Mexican Steel Industry

Paul Ploumis
ScrapMonster Author
Moreover, the surplus is projected to double in 2024.
CANACERO: U.S. Steel Exports Pose Threat to Mexican Steel Industry

SEATTLE (Scrap Monster):  The Mexican steel industry confronts serious difficulties as a result of the sharp increase in U.S. exports of completed steel products, according to CANACERO, the trade association for Mexican steel producers and manufacturers.

The trade agency said that the bilateral trade in finished steel products has resulted in an average annual surplus of 1.2 million tons in favour of the U.S. throughout the period from 2015 and 2023.Moreover, the surplus is projected to double in 2024.

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Mexican Steel Exports Not a Threat to the U.S.: CANACERO

According to data for the first eleven months of 2024, U.S. exports to Mexico increased by 21% when compared to the average exports in prior years. While Mexican exports made up only 2.2% of the U.S. market, the U.S. held a roughly 16% market share in Mexico's overall steel market.

Furthermore, according to CANACERO, about 27% of the steel that the United States exports to Mexico comes from Asian nations. This is true even though Mexico has taken a number of steps to protect the North American region against unfair trade practices. Also, the country has partnered with the U.S. Customs and Border Protection (CBP) in building a traceability method to identify the country of origin of the imported steel and to avoid circumvention.

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