The production value of steel complexes in Mexico decreased 12.1 percent, year-over-year, in April, totaling MXN 15,148 million ($860 million). It is the ninth straight annual decline and one of the worst contraction periods, according to a SteelOrbis analysis of data from national statistics agency Inegi.
In real terms (figures adjusted to eliminate the inflationary effect) the reduction in the value of production was 17.2 percent.
According to the short statistical series of Inegi, from 2018 to date, in those 64 months, only twice the value of steel production exceeded $1.0 billion, in 2022, when it totaled $1.81 billion in May and $1.04 billion in June.
In the accumulated four months, the production value totaled $3.09 billion, 12.0 percent less than the $3.51 billion in the January-April period of last year.
The steel complexes include the primary casting of iron, steel, finished steel products such as pipes, hot rolled coils (HRC), cold rolled coils (CRC), steel structures, commercial sections, wire rod, bars , among others.