Mexico's iron and steel industry association Canacero reported Wednesday that steel production in Mexico is likely to slow 3 percent in 2012, as an economic slowdown in the US is lessening steel production demand south of the border.
Canacero also predicted an overall slowdown in US economic activity for the balance of 2011, which will in turn dampen demand and activity in Mexico, one of the US' largest steel trading partners. On the whole, 80 percent of Mexican exports are sent to the US.