Mexico's Iron & Steel Industry: Stats & Figures

 

Mexico is among the world's leading exporters of iron and steel. Although, in 2023, Mexico's iron and steel exports saw a decline of 38%. According to Mexico import export data, the country's overall iron and steel exports were estimated to be $4.2 billion during fiscal year 2023. The United States was the leading destination for Mexico's iron and steel exports representing market share.

Guatemala was the second leading market for Mexico's iron and steel exports followed by Colombia, Canada, and India. Arcelormittal Mexico, Ternium Mexico, Deacero and Thyssenkrupp Mexinox were the top iron & steel export companies from Mexico with a higher amount of shipments in 2023. 

According to recent Mexico export data, the overall iron and steel exports of Mexico reached $875 million during January 2024. In terms of iron and steel articles exports, Mexico’s total earnings were over $9.83 billion during last fiscal year. Mexico's 80% of iron and steel articles exports went to the USA. 

The USA imported over $8 billion worth of iron and steel articles. Also, there was a surge in Mexico's exports to Canada, Panama, Saudi Arabia and Brazil. Tubos de Acero, Rassini, Assa  Abloy Occidente and Mabe SA are some of the prominent iron and steel articles export companies from Mexico. 

Considering Mexico’s scrap iron exports, over $435 million worth of products were exported in the previous financial year. The United States, India, China and Japan  were among the major destinations for Mexico’s scrap iron exports. On the other hand, Mexico’s scrap iron imports were $1.5 billion during fiscal year 2023. The USA was the most favoured destination by Mexico for scrap iron imports.

Whereas, Mexico import data shows around $23 billion worth of iron and steel imports in 2023. The United States was the top market for Mexico's iron and steel imports with over 30% market share. Whereas, Brazil was the second leading iron and steel imports with imports worth $3.3 billion during last year. 

Other significant markets for Mexico's iron and steel exports are Japan, South Korea and China. Ternium, Metalogics Trading and Am/ns Calvert are the top iron and steel companies in Mexico. In terms of iron and steel articles imports, Mexico’s imports were over $13 billion during fiscal year 2023. The United States was responsible for Mexico’s 44% imports of iron and steel articles. China, Germany and Japan were the fastest growing markets for Mexico's iron and steel articles exports. 

Last year, Mexico’s base metals exports declined significantly. Mexican metal export companies can mitigate financial risk and reach out to the genuine buyers through the intelligence of Global import export data provider reports. In global trade intelligence reports, Mexican companies can discover the major demanded metals across the world, top importing/exporting markets, buyer/supplier companies, quantity and price analysis. It will help Mexican companies plan marketing strategies effectively and achieve their ROI through genuine clients.