MEXICAN STEEL: Five more things we heard

Fastmarkets AMM summarizes five more things learned at the 2019 Mexican Steel Forum held February 12-15 in Monterrey, Mexico.

The Vale dam failure could have a major affect on the Mexican steel market.  Mexico annually consumes 16 million tons of iron ore, of which 3.3 million tons (20%) are imported, mostly from Brazil, according to Daniel Riojas, sales sub-director for steel producer Altos Hornos de México (Ahmsa). Mexico produces 6 million tonnes of direct-reduced iron (DRI) and 4.4 million tonnes of pig iron per year. The output of these products has been little-changed in the last 10 years. Greater consumption has been met with higher imports every year - iron ore imports grew from 200,000 tonnes in 2009 to 1.2 million tonnes in 2018, and DRI imports grew from 26,000 tonnes in 2009 to 807,000 tonnes in 2018. Due to the recent rupture of a tailings dam at a Vale-owned mine in...

Published

Yvonne Li

February 14, 2019

20:44 GMT

Monterrey, Mexico