The National Chamber of Iron and Steel (CANACERO) issued its report on the steel industry in Mexico, where the country ranks 15th as a world producer of crude steel and generates 672,000 direct and indirect jobs, with an investment of $14,461 million dollars in the last 10 years, that is, from 2013 to 2023.

A total of 18.5 million tons of crude steel were produced in 2021, which was -8.3% lower than the record figure achieved in 2018. Per capita consumption of finished steel products was 203 kg per year, while the average global consumption was 233 kg per year.

In 2023 in Mexico, according to the Worldsteel Short Range Outlook October 2022, steel will grow in apparent consumption by 3.0%. In 2023, global steel demand will recover by 1.0% to 1.814 Mt. The current forecast assumes a drop from the 2021 forecast, due to persistently high inflation and rising global interest rates.

However, infrastructure demand is expected to increase in 2023 and therefore steel demand will increase.