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

Mexico’s industrial output fell by 3.3pc on an annual basis in November 2020 due to a decline in construction, mining, and manufacturing, according to the National Statistics Agency (Inegi).


Construction activity dropped by 8pc in November 2020 from the same prior-year month, while mining activity declined by 2.5pc, and manufacturing activity decreased by 1.2pc in the same period, Inegi noted on Monday, without disclosing the volumes.


Construction activity dropped by 20.9pc in November 2020 compared to the same month last year, on a decline in civil engineering works. The construction of new buildings and construction of specialized infrastructure projects also fell by 5.9pc and 3.4pc, respectively, in the same period.

On a monthly basis, on the other hand, Mexico’s industrial output rose by 1.1pc in November 2020. The country’s crude steel output increased by 1.7pc to 1.45mn mt from 1.42mn mt during the same annual period. 


Brazil’s industrial output, on the other hand, increased by 2.8pc in November 2020 on an annual basis due to higher demand for machinery and equipment. Demand for the latter rose by 15.9pc, while the metallurgy industry grew by 5.4pc. Non-metallic mining production rose by 10.7pc, Brazilian statistics agency (IBGE) said in a recent statement.

On a monthly basis, Brazil’s industrial output rose by 1.2pc in November 2020, IBGE said without disclosing volume.

Brazil’s crude steel production rose by 11.2pc to 2.9mn mt in November this year, from 2.6mn mt produced in the same prior-year period, according to the latest World Steel Association data.


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