The value of iron ore imports to the Mexican steel market increased 109.5 percent in February, year-over-year, to $38.5 million, the fifth consecutive annual increase, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
In the accumulated period of the first two months of the year, $55.0 million were imported, a figure that represented an increase of $26.0 million or 90.1 percent compared to the January-February 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.