The value of Mexico's steel exports to the world registered the lowest amount in the last 30 months, according to SteelOrbis analysis of data from the national statistics office Inegi.
Mexican steel exports totaled $935 million in October, 22.9 percent less, year-over-year, marking 14 consecutive months with a downward trend in the value of exports.
In October, imports totaled $2.68 billion, up 2.4 percent year-over-year, the tenth consecutive annual increase. From March to August of the current year, steel imports exceeded $3.0 billion.
As such, the steel trade balance was negative for Mexico by $1.75 billion, 24.2 percent more, year-over-year.
In the accumulated period of January-October, steel imports totaled $29.0 billion, 5.4 percent more compared to the same period in 2022.
The value of exports totaled $10.6 billion, 20.3 percent or $2.7 billion less than the same period last year.