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Print[Ferro-alloys.com]According to Mr Juan Carlos Villareal, president of steel industry chamber Canacero's planning commission, Mexican steel production will not keep pace with demand expected in the coming 3 years.
Mr Villareal said that given 3.5% GDP growth expected in 2013 and a 3.3% expansion in industrial production, Mexico's steel consumption will increase to 25.2 million mt this year, with production at about 19 million mt.
He said that the gap between demand and supply is expected to increase further to about 7.4 million mt in 2014 and 7.5 million mt in 2015, with economic growth expected to total 14.8% over the three years compared to a 9.6% increase in production.
The estimated 2015 deficit is about 21% higher than that expected in 2013, which could result in further increases in steel imports.
According to figures from Canacero in February, Mexico produced 18.1 million mt steel and consumed 23.6 million mt in 2012, while imports rose 38.5% over 2011 to 9.6 million mt.
Mr Alonso Ancira Elizondo President of Canacero recently called for stronger measures to protect Mexico's steel industry from an economic tsunami caused by lower steel demand as a result of stagnation in Europe and slower Asian growth, resulting in a global steel oversupply of 320 million mt.
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