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

Mexico’s industrial output declined in July on an annual basis due to a decrease in mining, construction, and manufacturing activities, as a result of sunken demand since the outbreak of the COVID-19 pandemic.


Mine operations contracted 3pc in July, compared to the same month of last year, while construction activity fell by 23.7pc, and manufacturing activity declined by 9.5pc in the same comparison, National Statistics Agency (Inegi) said in a statement on September 11, without disclosing actual volumes.


Construction of civil engineering works and specialized construction work dropped by 29.4pc and 17pc, respectively. Production of transport equipment also fell by 9.5pc in July this year on an annual basis, Inegi pointed out. Mexico’s mining industry production could fall by 17pc this year due to the industry suspended operations for about two months to contain the spread of the COVID-19 pandemic.


The steel and automotive industries also recorded declines in production. Mexico saw a 22.6pc lower crude steel output by  to 1.15mn mt in July from 1.48mn mt in the prior year period, according to the latest figures released by the World Steel Association (worldsteel). Car production decreased by 13.1pc to 293,463 cars in August, from 337,898 cars in August 2019, according to figures from Inegi.



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