Aluminum imports in Mexico totaled 5.863 million dollars in 2020, a year-on-year decrease of 14.5%, according to data from the Ministry of the Economy.
Worldwide, Mexico ranked as the fifth largest importer on the planet, behind the United States, Germany, Japan and France.
Affected by the Covid-19 pandemic, the primary demand for aluminum decreased 3.0% in 2020, after a 1.0% drop in 2019.
Within Mexico’s aluminum imports, shipments of this crude metal were for 1,555 million dollars in 2020, which implied a 23.7% annual contraction.
On the other hand, imports of aluminum sheets and strips thicker than 0.2 mm (one of the forms most bought by Mexico from abroad) totaled 2,076 million dollars, a decrease of 9.5% year-on-year.
Aluminum is one of the fastest growing major metals in the world.
Lightweight and recyclable, it is found in everything from jet engines to electric vehicles to smartphones.
Overall, the pandemic hit consumption severely in the past year, but with notable regional differences in recovery rates: gradual in the developed world with China experiencing a strong V-shaped recovery.
Demand in the transport sector was especially weak in 2020, but was robust in the packaging sector.
According to the Rio Tinto company, the alumina market maintained a moderate surplus and low prices have led to a high level of idle capacity within China.
Alumina is, together with silica, the most important component in the constitution of clays and enamels, giving them strength and increasing their ripening temperature.
Finally, in 2020, Mexico’s aluminum imports originated mainly in the United States ($ 2.46 billion) and China ($ 1.26 billion).
Other external suppliers of this metal in the Mexican market were Canada, South Africa, South Korea, Russia and India.