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

Mexico’s automotive, mining, and construction industries will restart production on May 18 as part of the government plan to reactivate the economy, which has been severely hampered by the COVID-19 pandemic. 


These industries’ reopening will occur between May 18 and 31, according to a plan presented by the country’s Economy Minister Graciela Márquez Colin on Wednesday.


Under the plan, manufacturers used for in the aforementioned industries will become “essential.”


On March 24, eight carmakers suspended operations at their plants in Mexico to protect employees from COVID-19.

Mexico’s car sales dropped by 64.5pc to 34,903 units in April on lower demand due to the COVID-19 pandemic. Car sales in April 2019 reached 98,346 units, the National Statistics Agency (Inegi) said, adding that the April 2020 sales volume is the lowest level recorded since 1995.


On March 31, the Ministry of Health issued a decree requiring non-essential businesses, including mining and construction, to temporarily suspend activities until April 30. 


Construction activity fell by 7pc in March 2020 compared to last year, according to the latest data released by Inegi.


Manufacturing activity also decreased by 6.4pc in March compared to the same month in 2019, while the mining industry saw an increase of 1.5pc over the same period.

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