The value of metal scrap imported into Mexico decreased in November, falling 16.1 percent, year-over-year, to $86.2 million. In the first 11 months of 2023, it increased four times and decreased seven times, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
The consumption of scrap, local or imported, is related to steel production in Mexico and in the last 12 months (from December 2022 to last November) production decreased 11.2 percent on a monthly average.
In the accumulated value of the first 11 months of 2023, the value of imported scrap totaled $1.10 billion, 16.3 percent or $215 million less compared to the January-November 2022 period.
Official data also shows that in the first 11 months of 2023, $89.4 million of granulated slag and other waste from steel mills was imported into Mexico. That amount represented an annualized decrease of 42.8 percent.
The export of scrap from the Mexican market in November broke the decreasing trend of the last nine months (since October 2022) for the fifth time. In November, the value increased 86.5 percent year-over-year to $43.5 million. It is the second highest amount in the last 14 months.
In the accumulated until the eleventh month of 2023, exports amounted to $430 million, 5.9 percent or $27 million less compared to the same period in 2022.