The total value of exports of Mexico’s steel industry decreased 7.8 percent in January, year-over-year, to $873 million, a figure that ranks as the lowest value in the last 35 months, according to SteelOrbis analysis of data from the national statistics office Inegi.
The international trade of the steel market in Mexico has been affected since last year because the steel giant Altos Hornos de México (AHMSA) paralyzed steel production due to its insolvency.
Regarding the value of steel imports, in January they decreased 6.1 percent, year-over-year, to $2.36 billion. It is the third consecutive percentage drop and it is the fifth consecutive month that the value is below $3.0 billion.
In January, Mexico's steel trade flow with the world reached $3.23 billion, well below the $4.55 billion of the historical record in June 2022.
The Mexican steel market is in deficit and in the last 30 years the trade balance has been in deficit for the country. In January, the deficit was $1.49 trillion, 5.1 percent less than the first month of 2023.