Mexican steel imports from China in the cumulative period of January to August increased 44 percent, year-on-year, according to media reports citing data from the nation’s economy secretariat, SE.
Mexico imported 421,000 mt of steel from China in the eight-month period, becoming Latin America’s third largest steel importer from the Asian country, just behind Brazil and Chile, which imported 928,000 and 793,000 mt of the product, respectively.
Due to the saturation of products, not only from China but also from Brazil and Russia, ArcelorMittal announced recently it will reduce slab production in Mexico by 90 percent, along with implementing an indefinite work stoppage in the Las Truchas mine. The decision will affect 2,500 workers, the company said.