The Central Bank of Mexico (Banxico) surprised most investors in its last monetary policy meeting, which was held on 12th November’20, by holding the policy rate steady at 4.25%. The pause did not signal the end of the easing cycle, which has accumulated 400bp in rate cuts. But, as per ING Financial Services, the pause suggested that some months would be needed for policymakers to reassess the economic outlook before adjusting the policy rate once again if needed.
The LATAM nation’s import of aluminium tubes or pipes fittings during 2018-19 records at 17,095 tonnes and the expenditure stood at $243.97 million. The import for 2020 remains at 6172 tonnes and the expenditure stands at $156.30. However, when the import volume and expenditure for 2020 gets summed with the preceding two years, it unveils 23,267 tonnes and $400.27 million respectively.
Mexico’s import of aluminium tubes or pipes fittings in 2018 stood at 11,194 tonnes and the revenue expenditure remained at $116.85 million, whereas, in 2019, the import saw a decline by 47.28%, as the import volume dropped to 5901 tonnes, while the expenditure rose to $127.12 million.
The import for 2020 saw growth by 4.59%, as the import volume grew to 6172 tonnes and the expenditure climbs to $156.30 million.
Mexico’s major trading destinations for the importation of aluminium pipes or tubes are Brazil, China, Canada, Czech Rep., France, Philippines, Germany, India, etc.
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