[SMM Steel] Mexican HRC Prices Remain Firm as Import Competition Weakens

Published: Aug 17, 2026 16:24

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[Mexico] Last week, Mexican HRC prices remained broadly stable at around 985 USD/tonne, despite a slight decline in local-currency prices due to the stronger peso. Market activity remained relatively slow, but domestic mills showed limited willingness to offer discounts, while public and private investment projects continued to support steel demand. Import competition also remained limited under Mexico’s 35% tariff regime, which has significantly raised landed costs and helped domestic producers regain market share. In H1 2026, Mexico’s steel production rose 5% y/y to 9 million tonnes, while steel consumption increased 2% to 13 million tonnes. In the short term, weaker import competition and steady domestic project demand are expected to keep HRC prices relatively firm, although cautious spot purchasing may limit further upside.

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