The production value of steel complexes in Mexico decreased 10.1 percent, year-over-year, in March, totaling MXN 15,067 million ($826 million).
The drop marks the eighth consecutive annual decline according to a SteelOrbis analysis of data from national statistics agency Inegi. July 2022 was the last month that the production value of steel companies in Mexico exceeded $1.0 billion.
The steel complexes include the primary casting of iron, steel, finished steel products such as tubes, hot rolled coils (HRC), cold rolled coils (CRC), steel structures, commercial sections, wire rod, bars , among others.
The information from the Inegi is in nominal pesos, which includes the price variation due to inflation. The conversion to dollars was with today's retail exchange rate (18.24 pesos per dollar).