The value of iron ore imports to the Mexican steel market increased 68.1 percent in December to $37.7 million, the third consecutive annual increase and the highest in the last five months, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
For the entire year, the import value of iron ore was $395 million, 4.9 percent more than in 2022. The annual historical record was 2021 with $507 million.
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.
In the Inegi information, there are no records of the export of iron ore. Although they do measure the export of ashes and metal waste. In 2023, $23.6 million were exported, 34.6 percent, less than in 2022.