The value of metal scrap imported to Mexico remains on a negative trend for the third consecutive month, decreasing 17.6 percent in December, year-over-year, to $58.9 million, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
The consumption of scrap, local or imported, is related to steel production in Mexico and in the last 13 months (from December 2022 to last December) production decreased. In all of 2023 alone, it decreased by 11.7 percent or 2.15 million tons, totaling 16.16 million tons.
In all of 2023, the value of imported scrap totaled $1.16 billion, 16.4 percent less than in all of 2022. The historical record was in 2022 with $1.39 billion. It is the third time that $1.0 billion has been exceeded, in 2021 it was $1.28 billion.
The export of scrap from the Mexican market remained on the positive trend. In December, it rose 21.9 percent year-over-year to $39.8 million. It was the sixth consecutive annual increase, after nine consecutive months of decline.
In the cumulative total of 2023, it totaled $469 million, 4.1 percent less than in 2022. The historical export record in the Mexican steel market was in 2011 with $527 million.