Mexico is the 16th in the world. Mexico has a GDP of $1.269 trillion. The largest industries of Mexico are:
Given the economic growth of Mexico, it is an attractive country for steel trade. Mexico’s steel industry is diverse and includes steel mainly for the automotive and construction industries. The automotive industry in Mexico contributes to about 3.7% of GDP and 20.2% of manufacturing GDP. The construction sector in Mexico accounts for about 8% of GDP. Mexico is the second largest steel producer in Latin American and 13th largest in the world. They also consume a large amount of steel.
Mexico has a fast-growing automotive industry. Much of the steel and iron produced in Mexico or importer contributes to automotive production. Of the industry’s total production, terminal sector makes up 62.1% and auto parts makes up 37.9%.
Steel and iron contribute many and various products for use in construction in Mexico. This industry was booming after natural disasters occurred in 2017 and 2018, but slightly decreased in demand since then. In Mexico’s construction business, they would typically use mostly brick and cement, but have recently been drifting to use more steel.
Mexico is accessible by both land and sea. For international trading, the main sea ports are:
For importing the good, Camasteel uses the largest port of Manzanillo.
According to the latest trade data, Mexico imports
These include steel such as:
In order to import steel to Mexico, the company must provide Import Authorization. They also must submit steel material import information providing a Mill Test Reports or Material Quality Certificate and get approval. This will show the value and quantity of the steel desired to be imported. Mexican Customs is improving the management of steel imports to make sure the steel that is coming into the country are quality products.
1. Availability -- Mexico is the 11th largest steel importer in the world. Mexico imports a total of about 11 million metric tons of steel. Mexico also does not have the capacity to produce all the steel they need for their country, so they must import, as well.
2. Steel Cost – Given domestic competition and high production costs, steel is more expensive to buy domestically than on the world market.
3. Steel Quality – While most international steel suppliers have good brand reputation and quality, some smaller domestic manufacturers can have variant steel quality. Mexico regulations suggest they are taking better precaution in importing high-quality steel.
In If you’re looking to buy small amounts of steel, there are local options more available for convenience. However, if you are looking to import in bulk and achieve cost savings, Camasteel has been exporting steel to clients in the Mexico. Feel free to contact us at [email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation.