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

The value of automotive and manufacturing exports from Mexico rose in October from the prior year due to healthy demand in the US, thereby aiding Mexican steel production.


The value of exports of automotive products rose by 12.8pc to $13.9bn in October driven by an increase in overseas sales by 15.4pc in the US, the National Statistics Agency (Inegi) said in a statement. 


Mexico’s car production increased by 8.7pc to 347,829 units in October, from 319,737 vehicles produced in October 2019, according to Inegi. Car exports increased by 8.2pc to 280,474 units in the month from 259,158 vehicles shipped in Oct 2019. 


The value of exports of manufacturing products also increased by 3.5pc to $38.3bn in Oct 2020 from the same month in the prior year. 


Additionally, exports of mining products rose by 13.3pc in October this year from the prior-year period. 


Mexico, the second-largest crude steel producer, increased its crude steel output by 1.1pc to 1.47mn mt in October this year, from 1.45mn mt produced in the same month last year. 


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