The value of scrap metal imported to Mexico increased 11.6 percent year-over-year in July to $65.0 million. This increase breaks the negative trend of five consecutive months. Despite the percentage increase, it is the lowest value in the last seven months, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
For its part, scrap exports from the Mexican market increased 9.8 percent, year-over-year, in July to $45 million. In the last 12 months, exports grew 11 times and only a 1.4 percent decrease last May.
In the cumulative January-July, imports decreased 19.6 percent to $582 million, the lowest figure in the last four years. Exports amounted to $307 million, 19.1 percent more than the same period last year.
According to the National Chamber of the Iron and Steel Industry (Canacero), 54 percent of the primary steel produced in Mexico is with metal scrap. In 2023, 16.2 million metric tons were manufactured.