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

Mexico’s construction output declined by 16.5pc in February annually due to lower demand for construction of new buildings and specialized infrastructure projects, which has also hurt the steel demand, according to the National Statistics Agency (Inegi).


Construction of new buildings fell by 14.1pc in February compared to the same month the prior year, and construction of specialized infrastructure projects dropped by 19.7pc in the same period.


Construction of civil engineering works, on the other hand, rose by 1.1pc year-on-year in February. Contracts for construction industry personnel decreased by 9.3pc in February compared to the same prior month period, while their working hours also fell by 10.5pc, the agency noted in a statement on Tuesday. 


The construction and steel industries have been affected since the pandemic started. Mexican crude steel production decreased by 9.7pc to 1.27mn mt in February, from 1.40mn mt in February the prior year, according to data from the World Steel Association.


Mexico’s economy fell by 4pc year-on-year in February, and 0.3pc month-on-month in February, Inegi noted.



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