It is reported that Mexican steel consumption in 2014 increased to 26.26 million tons from 23.72 million tons in 2013, according to steel institution Canacero.
The country's imports also increased as other countries exported their overcapacity to Mexico, such as China, South Korea and Japan. Mexico's steel imports totaled 12.39 million tons in 2014, up by 20% from the previous year.
Meanwhile, the country's steel exports totaled 5.79 million tons, down by 3.6% from the last year.
7 Chinese, Nigerian firms to cooperate on reviving steel plant
A consortium of Chinese and Nigerian firms was to revamp the Ajaokuta Steel Plant in central Nigeria with projected annual production of 2 million tons of steel within the first two years of takeover.
The Chairman of Henan Taihang Quanli Heavy Industry Group, Huang Quanli, revealed this in Abuja on Monday at the public presentation of the consortium.
He said a consortium, made up of Total Steel Ltd of Nigeria and Henan Taihang Quanli Heavy Industry Group, was formed to take over and deliver quick results in steel production in the long suspended plant.
The Chairman of Total Steel Nigeria, Hussaini Abdulrahman, said the company had vast experience in steel manufacturing spanning 30 years.
He said it currently owned a steel plant and a substantial upstream coal and iron ore resources all within a 50 km radius of Ajaokuta Steel Plant.