Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Industrial production in Mexico declined 8.4pc on an annual basis in August in various sectors such as construction, manufacturing and steel production, the country’s National Statistics Agency (Inegi) reported.


Construction activity fell short by 14pc in August, compared with the same month last year while manufacturing and mining operations fell by 7.7pc, and 3.8pc in the same period, respectively, Inegi said in a statement on October 12, without disclosing metrics. 


Civil engineering works fell by 27.4pc in August over the prior year period while construction of specialized infrastructure projects and that of new buildings decreased by 11.4pc and 10.6pc, respectively, in the same period. Mining activity in the metallic mineral production sector fell by 1.1pc while mining services declined by 16.4pc in this period.


Mexico’s mining industry production could fall by 17pc this year due to suspended operations in April-May to contain the spread of the COVID-19 pandemic. Mexico also saw a reduction in its crude steel output by 17.3pc to 1.25mn mt in August, from 1.51mn mt in August 2019.


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