According to data from the World Steel Association, Mexico was the world's 14th largest steel producer and 10th largest consumer of steel in 2022 and is projected to overtake Italy as the 9th largest steel consumer in 2023.

On this basis, Mexico is a strong consumer of US ferrous scrap, and the US is Mexico's main supplier of this raw material.

Precisely, in 2022 the US exported 3 million tons of ferrous scrap to Mexico, the second largest destination after Turkey.

On the other hand, during the first eight months of 2023, Mexico imported a total of 1.66 million tons of ferrous scrap, of which 1.3 million tons were from the US.