The value of metal scrap imported into Mexico remained in negative territory in April with a decrease of 27.1 percent, year-over-year, the third consecutive annual decrease. In the last 12 months, imports decreased nine times, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
Also, in the last 12 months, it is the eighth non-consecutive time that imports were below $100 million per month.
The consumption of domestic or imported metal scrap is linked to the production of steel. In Mexico, steel production accumulates 17 months with consecutive annual declines until April (the most recent public information) with an annual reduction of 11.0 percent on a monthly average.
For its part, scrap exports from the Mexican market increased 7.4 percent in March, year-over-year, to $43 million. It is the tenth consecutive annual increase.
In the accumulated January-April, imports decreased 15.3 percent to $363 million, a figure that is the lowest in the last four years. Exports accumulated $181 million, 31.2 percent more than the same period last year.
According to the National Chamber of the Iron and Steel Industry (Canacero), 54 percent of the primary steel produced in Mexico is with metal scrap. In 2023, 16.2 million metric tons were manufactured.