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Mexico's steel imports value falls 25.6 percent in June-The 25th China(Guangzhou) Int'l Casting Products ,foundry Industry Exhibition
8/20/2024 鑄件展-鑄件展會-casting expo-casting exhibition |
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The value of finished steel product imports to Mexico decreased 25.6 percent in June, year-over-year, to $2.45 bilion. lt is theworst decline in the last 46 months since September 2020). in the ast 12 months, mports decreased seven tmes, according toSteelOrbis'' analysis of data from the national statistics office lnegi.In the last two months (May and june), the value of imports entered negative territory due to the problems of some steel importersto Mexico in obtaining permits under the new rules of the Mexican government since April 15 due to failures in the operation of theMinistry of Economy, as reported by SteelOrbis
Regarding the value of exports of finished steel products, they remain on a negative trend. n June they decreased 17.4 percentyear-over-year, to $897 million.
In addition to the bureaucracy of the Ministry of Economy in steel import permits, international trade in the Mexican steel markethas also been afected since the becinning of 2023 because the giant steel company Altos Hornos de México (AHMSA) paralyzedsteel production due to its insolvency
Mexico''s trade flow of finished steel products with the world reached $3.35 bilion, 23.4 percent less, year-over-vear. in addition, itwas well below the $4.55 trillion historical record in June 2022.
In the accumulated value of the first half of the year, the value of exports decreased 8.0 percent, totaling $6.0 bilion, importstotaled $15.1 bilion, 12.8 percent or $2.2 bilion less compared to the january-June period of last year
In June. the trade balance of the Mexican steel industry was in deficit by $1.55 bilion, 29.3 percent less than the same month lastyear. in accumulated terms, the deficit was $9.1 bilion, 15.7 percent less compared to the january-June period of last year.
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