Iron pellet production volume in Mexico decreased 12.9 percent in March, year-over-year, to 508,503 metric tons (mt). Of the three big mining firms, only ArcelorMittal was in positive territory, according to a SteelOrbis analysis of data from national statistics agency Inegi.
Of the three largest producing regions in Mexico, the western state of Colima contributes 56.7 percent of the total production. Las Encinas, a mine owned by Ternium, and the Peña Colorada mining complex, jointly owned by ArcelorMittal and Ternium, both operate in Colima. In March, production in the region was 288,150 mt, 17.7 percent less than in the same month of 2022.
The second largest region, with 22.0 percent of production, is the western state of Michoacán, where ArcelorMittal operates. In March, production was 111,727 mt, 0.1 percent or 158 mt more than the same month last year.
The third largest region, with 21.4 percent of the total, is located in the northern city of Monclova, Coahuila, where the steel company Altos Hornos de México (AHMSA) operates. Iron pellet production decreased 11.2 percent, totaling 108,626 mt.
The average value of the metric ton of iron pellets in March was MXN 1,575 pesos, a figure that at today's exchange rate represents $86/mt. In pesos, the price decreased 18.7 percent in nominal terms (without adjustment to eliminate inflation).