JOHANNESBURG--November 7, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The Mexican steel industry has a $15 billion steel project pipeline, which could add 6 million tons annually in production over the next few years, and the conditions are in place for investments in that capacity. Steel demand is set to grow 5.5% to 6% in 2012, but expectations are "rather high," according to industry sources. In 2011, the country's steel output grew 9% to 18 million tons, and the forecast production for 2012 is 18.5 million tons. But caution in the steel value chain has characterized the past year.