The value of imported scrap metal into Mexico decreased for the fourth consecutive time in June, decreasing 39.4 percent, year-over-year, to $101 million, the lowest amount since last February, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
However, steel mills in Mexico increased the value of iron ore imports in June with an increase of 45.9 percent, year-over-year, to $43 million.
In the accumulated in the first half of the year, imported scrap totaled $666 million, 21.6 percent or $183 million less compared to the same period of 2022. For the first semester, it is the first drop in imports since 2020.
The value of iron ore imports in the first half of the year totaled $195 million, 10.4 percent or $23 million less than the same period last year. The importation of ashes and metal residues increased 1,200 percent, going from $808,000 to $10.7 million.
Scrap exports from the Mexican market in June decreased for the ninth time compared to the year. In June, $37 million were exported, 35.7 percent less compared to the same month last year.