Steel-consuming sectors in Mexico should receive a boost from a gradual recovery in the Mexican economy this year, with optimism among participants in the scrap market slowly growing as a result.
The country's gross domestic product (GDP) is expected to grow by 1.2% in 2020, according to the International Monetary Fund (IMF), although more recent forecasts from economists have been lower.Monex expects Mexico's GDP to be flat this year because the economy has been struggling with a recent change of government in early 2019 and the long negotiation of the United States-Mexico-Canada Agreement (USMCA). Both events contributed...