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Mexico

It has been a slow start to 2024 for aluminium scrap collection and demand. Incoming volumes into scrap yards continue to be muted and demand has also been spotty for most aluminium scrap grades, creating a relative balance which has kept prices from dropping further but which has also has impaired any significant price recovery. Low scrap prices only mean lower collection rates which, in turn, are detrimental to the health of the recycling industry.

This year is likely to be marked by significant geopolitical volatility. In Mexico, there will be both a presidential and congressional election on top of state votes to elect governors and mayors for many municipalities. With the USA also holding presidential and congressional elections this year, the Mexico-USA relationship will certainly be a hot and contentious topic.   

Mexico became the USA’s top trading partner during 2023. The two countries share a border of more than 3000 km and are integral to each other’s major security concerns. Well-conceived policies will strengthen Mexico-USA trade and labour pools whereas ill-conceived policies will only weaken them.

Global Recycling Day is around the corner on March 18 and I would urge all my peers to take this opportunity to educate the broader community about the remarkable contributions of our industry, which are not limited to the environmental sphere but also include providing an avenue for wealth creation that is critical to better living standards for millions of individuals and families.