The value of iron ore imports to the Mexican steel market decreased 99.9 percent in March, year-over-year, going from $83.1 million in March of last year to $96,000. It is the second lowest amount in the last 44 months, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
In the first quarter of the year, $55.1 million were imported, a figure that represented a decrease of 50.9 percent or $57.0 million compared to the January-March 2023 period.
At the beginning of 2023, the integrated steel company Altos Hornos de México (AHMSA) went into paralysis due to insolvency and stopped producing steel and also paralyzed the extraction of iron ore.