Mexico's crude steel production hits three-year low in march

Mexico's crude steel industry faced a significant downturn in March, marking its lowest production level in approximately three and a half years.

The production fell to 1.17 million tons, a sharp 19.8% decrease compared to the same period last year.

The average monthly production of crude steel in Mexico over the last 41 months has been around 1.34 million tons. The peak production was recorded in May 2021, when output reached 1.7 million tons. Alongside the decline in production, March also saw a 6% year-on-year drop in steel consumption, which decreased to 2.6 million tons.