Mexico's national steel chamber reported Tuesday that it expects Mexico's steel production to drop 21 percent this year from last, to 13.6 million mt, due primarily to a drop in demand in the US.
"Our country and our sector have been one of the most affected by the drastic fall in international trade and industrial production in the United States," said P.S. Venkataramanann, the president of the chamber, in a statement. Venkataramanann is also the CEO of ArcelorMittal Mexico.
The chamber expects, however, that in 2010, Mexico's steel consumption may rise by as much as 14.5 percent, to 21 million mt, due to domestic investments in steel-intensive alternative energy projects, such as wind turbines.