Mexico's rebar exports dropped in March, imports hit record levels

SPOKANE (Scrap Monster): The latest statistics released by the Mexican Economy Secretariat shows that rebar exports by the country witnessed steep decline during the month of March this year. Meantime, imports during the month skyrocketed to surpass the yearly exports recorded in 2014.

Mexico’s rebar exports totaled 26,943 mt during March ’15, dropping by 64.7% when compared with the exports of 76,396 mt during March last year. The value of exports too tumbled from $50.57 million FOB in March 2014 to $16.68 million FOB in March this year. The sharp decline in exports is mainly on account of huge drop in volumes to major exporting countries including the US, Bolivia and Colombia.

The Mexican rebar exports to the US plunged to 599 mt in March this year when matched with 19,975 mt in March last year. The exports to Colombia too plunged heavily from 28,322 mt in March 2014 to 12,075 mt during the same month this year. Bolivia did not import rebar from Mexico during March this year. The country had imported 13,335 mt in March 2014. Meanwhile, Haiti which had no reported imports in March 2014 recorded 2,289 mt of imports during this March.

The rebar imports by Mexico surged higher during March this year. The imports totaled 8,537 mt, surpassing the volume of 6,019 mt imported during the whole year 2014. China was the main supplier of rebar to Mexico. The rebar imports from China totaled 4,820 mt. The rebar imports from the US totaled 3,715 mt. The value of imports totaled $4.52 million CIF.