Mexican steel production dipped to 1.4Mt in January, with consumption up to 2.5Mt, according to a report by local iron and steel chamber Canacero.

Output was down 6.6% year-on-year in the month, a bigger fall than the 5.7% drop reported in December. However, consumption grew 8.8% in January, up from a 6.1% rise the previous month.

In 2022, steel production slipped 1.6% to 18.2Mt and consumption was down 1.3% to 28.1Mt, affected by a weak construction sector and rising inflation.

Mexico was ranked the 14th largest steel producer of 64 reporting countries last year, according to Worldsteel, which also reported that global steel production declined 4.2% to 1.88Bt.

Global steel production was 145Mt in January 2023, a decrease of 3.3% compared with January 2022.

Output of finished steel products reached 1.66Mt in the first month of the year, up 9.3% year-on-year, while consumption increased 9.1% to 2.19Mt, according to Canacero.

In terms of production volume, the top finished products were hot-rolled sheet, cold-rolled sheet, rebar, galvanized sheet, wire rod, wire and rolled steel plate.

In a sector study last November, BBVA wrote that construction continued to slow, but would grow 1% in 2023 thanks to civil works benefitting from large energy and transport infrastructure budgets.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

The production figures for precious metals and copper reflect the stagnation of the mining-metallurgical industry during 2022, according to an econ...

First Majestic stated that its production in 4Q22 reached 7.6Moz silver equivalent, down from the record 8.8Moz silver equivalent reported in 3Q22.

Subscribe to Latin America’s most trusted business intelligence platform.

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more. Request Demo

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more. Request Demo

Subscribe to BNamericas to find news reports, information on projects and contact information relating to thousands of companies that drive business in Latin America.

Unlock the full potential of BNamericas

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.