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

The value of Mexico’s steel, mining, automotive parts, and manufacturing and equipment exports increased in February compared to last year, abetted by higher demand from the US.


Mexico exported $700.7mn worth of steel products during the second month of this year, increasing by 5.9pc compared to February 2019, while mining product shipments totaled $898.3mn, according to figures from the National Institute of Statistics, Geography, and Informatics (Inegi).


Automotive product exports reached $12bn in February, rising by 3.4pc compared the same month last year, while the value of metal products, machinery and equipment rose by 3.3pc to $25.2bn, Inegi added.


On the other hand, the value of Mexico’s steel imports fell by 18.9pc to $1.3bn, and mining imports dropped by 10.1pc to $819mn.


Despite Mexico increasing exports since the beginning of the year, it expects economic performance to contract by 4pc in 2020, according data from Credit Suisse release on March.

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