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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2020 | North American Steels


Tough 2019 for Canadian and Mexican steel sectors: Mexico and Canada Highlights


The Canadian steel industry was faced with weakening demand from the automotive and construction sectors last year, with Oxford Economics estimating that there was a 5.6% year-on-year fall in automotive production in 2019.

Weak demand and trade pressure stifled steel markets in Canada and Mexico last year, but trade tensions appear to be easing for 2020.

The Canadian steel industry was faced with weakening demand from the automotive and construction sectors last year, with Oxford Economics estimating that there was a 5.6% year-on-year fall in automotive production in 2019. This was further aggravated by strike action that commenced in September at the General Motors plant in Ontario, and a subsequent temporary idling of the facility. In addition, data from Oxford Economics has shown an estimated 2.7% drop in construction output last year. The manufacturing PMI suggested that economic activity slowed towards the end of 2019 as the indicator fell to 50.4,...

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