ArcelorMittal, Reliance face steel freeze with Mexican energy cuts — Panjiva
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ArcelorMittal, Reliance face steel freeze with Mexican energy cuts

Materials - Metals/Mining 751 Metals - Steel 513 Mexico 881 U.S. 5317

Mexican manufacturers are feeling the effects of reduced U.S. energy exports linked to the extreme winter storms with industry association INDEX indicating losses of as much as $2.7 billion from reduced manufacturing. The steel and aluminum industry specifically is facing power and natural gas cuts of 80% or more with many plants having to shutter production. Mexican exports of basic steels had only recently started to recover with exports in December having risen by 8.1% year over year despite a 6.6% dip in supplies to the U.S. and Canada. The recovery has been driven by exports linked ...

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