Mexico industrial output rebounds in June

Spanish Market: Crude oil, Electricity, Metals, Oil products
11/08/26

Mexico's industrial production expanded by 0.2pc in June from the previous month, marking gains in two of the second quarter's three months as construction showed signs of a tentative recovery.

The June increase in Mexico's industrial activity indicator (IMAI), reported Tuesday by statistics agency Inegi, followed a revised 0.7pc contraction in May and a 2.1pc expansion in April. Industrial activity posted a cumulative net increase of 1.6pc over the second quarter.

The June result matched the consensus forecast cited by Mexican bank Banorte.

Construction, which accounts for 19pc of the IMAI, expanded by 3pc in June, rebounding from a 3.7pc decline in May after a 7pc increase in April.

Within the sector, building construction rose by 4.8pc in June after falling 5.5pc in May. Civil engineering fell by 2.7pc, reversing a 4.5pc May increase.

Weakness remained concentrated in manufacturing, which declined by 0.6pc in June after a 0.1pc drop in May and a 1.1pc increase in April. Ten of 21 manufacturing subsectors contracted in June.

The heavily weighted transport equipment segment fell 3.2pc in June, its first decline since January and the steepest since July 2025. Machinery and equipment output fell by 1.4pc after a 3.1pc May increase, while electronic equipment expanded by 0.5pc after declining 0.1pc.

Mining expanded by 0.6pc in June, led by a 10.5pc increase in related services, with the oil component also positive at 0.2pc. This follows 0.3pc expansion in May and a 0.2pc decline in April.

Generation, transmission and distribution of electricity, natural gas and water rose by 0.9pc in June, marking its first monthly expansion of 2026 after contraction of 0.4pc in May.

Industrial production returned to positive territory in annual terms, expanding 1.7pc in June from a year prior, with all four sectors posting increases. Mining was the top performer, rising 6.6pc, followed by construction at 5pc. Utilities rose by an annual 0.7pc, with manufacturing edging 0.1pc higher.

By James Young

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

11/08/26

Brazil’s inflation slows to 4.44pc in July

Sao Paulo, 11 August (Argus) — Brazil's inflation slowed to an annual 4.44pc in July, with lower housing costs helping to offset higher electricity bills. The consumer price index IPCA decelerated from 4.64pc in June and 4.72pc in May, national statistics agency IBGE said on Tuesday. The latest decline puts inflation within the central bank's target range of 1.50-4.50pc. Food and beverage costs, which weigh heavily on the index, contributed the most to the monthly deceleration in the IPCA, decelerating to an annual 3.4pc in July from 3.82pc in June. Lower prices for coffee, fruits and vegetables largely drove the declines, IBGE said. Housing costs was the largest monthly contributors to the gain in the index in July, with its inflation accelerating to an annual 5.93pc from 5.85pc a month earlier, mostly thanks to electricity bills and tax readjustments for power supply in some southern states. Transport costs slowed to an annual 3.64pc in July from 3.95pc in June. Lower prices for ethanol, diesel, gasoline and compressed natural gas weighed on motor fuel costs, despite an increase in airfares The annual gain for July was down from 5.23pc in July 2025 . The central bank expects inflation to end 2026 at 5.03pc, above its 1.5-4.5pc expected range. It also expects inflation at 4.22pc for 2027 and 3.8pc for 2028. Brazil's central bank lowered its target rate to 14pc in its latest meeting , held last month, a fourth such quarter point cut since March after holding it at 15pc since mid-2025 to stem inflation. By Mariana Funchal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Jellyfish cut 67pc French Gravelines nuclear capacity

11/08/26

Jellyfish cut 67pc French Gravelines nuclear capacity

London, 11 August (Argus) — Utility EdF last night curtailed about 3.1GW or just over half of France's 5.4GW Gravelines nuclear reactor — made up of six 900MW reactors — in response to a huge influx of jellyfish, increasing to 3.6GW on Tuesday evening. EdF first automatically shut down units 3 and 4, followed by a unit 2 shutdown and a curtailment by half of unit 1, the utility said today. Units 3 and 4 left the grid just before 20:00 local time on Monday, while unit 2 followed with a full-capacity outage at 22:30. Unit 1 began reduced operations at 430MW of capacity from 21:00, according to the utility's unavailability ticker. Meanwhile, unit 5 was already off line for maintenance until 8 December, while unit 6 will be reduced to 500MW of capacity as of 16:30 today until 10:00 on Wednesday, according to a Remit notice published this afternoon. The curtailments — excluding the partial reduction at unit 6 — equate to a 3.13GW or 58pc reduction in Gravelines' total plant capacity. Including the unit 6 curtailment, total reductions were at 3.63GW, or 67pc of the reactor's entire capacity. The curtailments at units 1 and 2 are currently scheduled to last until Wednesday at 23:00, while units 3 and 4 are set to return to the grid at 23:00 on 16 and 19 August, respectively. User-reported jellyfish weather service Meduseo on Monday reported an increase to 75 from 0 on its jellyfish density evolution chart at the Gravelines beach, next to the plant in northern France. The recorded global average sea surface temperature last month was the highest for any July on record at 20.96°C, data from EU earth-monitoring programme Copernicus show. And curtailed output from France's nuclear reactors so far this summer is nearing 5TWh due to heat and drought, having impacted 30pc of the fleet since restrictions began on 22 June. July was the hottest month ever recorded, according to state weather agency Meteo France, and one of the driest, with river flows and soil moisture at historic lows. On this day a year ago, EdF disconnected four 910MW units at Gravelines after finding jellyfish in filtering drums at the reactor's pumping stations. By Bea Leverett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Romanian 700MW unit to shut down this week

11/08/26

Romanian 700MW unit to shut down this week

London, 11 August (Argus) — The Romanian government has started technical preparations for the disconnection of the 700MW unit 2 at the 1.4GW Cernavoda nuclear plant later this week, the energy ministry said today. Given the very low Danube river flows and considering that the forecasts for Danube flows remain unfavourable, the controlled shutdown of the unit is expected this week, the ministry said. The latest forecasts indicate that Danube flows at Bazias will remain well below the 3,900 m³/s historical norm for August at least until the start of next week,remaining at 1,400 m³/s by 17 August, unchanged from this week. The ministry and transmission system operator (TSO) Transelectrica have started preparing for replacement output, including taking state-owned utility CE Oltenia's 300MW Rovinari lignite-fired plant out of reserve. And state-owned hydropower producer Hidroelectrica will use all of the available capacity at its plants, the ministry said. Romanian hydro stocks were at 2.01TWh, or 69pc of stored energy potential, in week 32 , 602GWh below the same period in 2025 and 447GWh below the five-year average for the week. The ministry has reiterated its call for responsible electricity consumption and voluntary reductions during the evening hours of 19:00-23:00. The last resort in the event that the system cannot meet demand is to cut power supply to certain large industrial consumers over those hours, it said. The announcement comes a few days after the government sank four metal barges in the Danube to redirect flows and increase levels near Cernavoda to ensure continued power production at the plant for "at least" the next nine days. Maximum temperatures in Bucharest are forecast to average 31.2°C, or 0.4°C above seasonal norms over the remainder of this week. By Apostolos Tsarikas Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Iran gasoline supply hit as war cuts South Pars output

11/08/26

Iran gasoline supply hit as war cuts South Pars output

Dubai, 11 August (Argus) — Iran's gasoline output has come under pressure after recent US-Israeli attacks cut condensate output at South Pars by around 230,000 b/d, according to NIORDC. The giant offshore field, which Iran shares with Qatar, feeds roughly 60pc of the country's gasoline production, head of state-owned refining company NIORDC, Mohammad Sadegh Azimifar said on 10 August. Iran's refining, fuel storage and transportation infrastructure sustained around $1bn of damage in the attacks, Azimifar said. The attacks destroyed 52 of the 97 tanks at fuel depots in Tehran and Alborz provinces, wiping out around 1bn litres of storage capacity and knocking out some distribution facilities. The strikes have hit refining capacity directly. The Lavan refinery produced about 3mn l/d of gasoline before the war, but now operates at roughly half that following drone attacks in April, according to state-owned news agency Irna. Together with the South Pars condensate loss, the damage has pulled domestic gasoline output lower just as demand climbs. Iran's maximum supply capacity for gasoline and diesel is about 110mn l/d each, against daily gasoline demand of above 130mn l/d and diesel demand of 120mn l/d. The deficit widened during peak holiday periods, when consumption jumped to around 10pc above the annual average. Iran could require around five to seven MR-sized gasoline cargoes, equivalent to roughly 50,000-55,000 b/d in August, to cover the widening supply deficit , according to market participants. Meeting that requirement has become difficult as import routes come under strain. Much of Iran's fuel imports arrived via the southern route, but the blockade has now restricted those flows, Azimifar said. The domestic distribution network has been hit too, with pumping stations at Rey that move products from southern Iran towards Tehran and the north "completely destroyed", he said. Despite the damage, Iran is pressing ahead with delayed downstream projects, with the Mehr refinery and a gasoline quality upgrade at the Tehran refinery both due on line by the end of the year, Azimifar said. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australia's Santos loads first Pikka crude cargo

11/08/26

Australia's Santos loads first Pikka crude cargo

Sydney, 11 August (Argus) — Australian independent Santos has loaded the first cargo from its 80,000 b/d Pikka oil project, based in Alaska's North Slope (ANS) region. The initial shipment of 450,000 bl of ANS crude left from the Port of Valdez on the Polar Resolution bound for the US west coast (USWC), Santos said on 11 August. Total ANS production averaged at 462,100 b/d in the week to 31 July , Alaskan government data show. Continuous production at the field began in June . Output is currently averaging at 23,000 b/d, with full project capacity expected to be reached in the third quarter of this year. Operator Santos holds a 51pc share of Pikka, and Spanish joint venture partner Repsol owns 49pc. ANS crude was at $85.73/bl on 10 August, down from $127.42/bl on 4 May with strong USWC refining economics and supply concerns are boosting ANS values. Medium crude supplies remain tight due to uncertainty linked to the Middle East conflict, while the ANS 3-2-1 refining crack spread on the US West Coast averaged at a near-record $77/bl last week. By Tom Major ANS crude price ($/bl) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Argus Crude

Daily crude oil price assessments, market news and analysis for more than 100 internationally traded crude streams across all major regions.

Argus Hydrogen Analytics

A quarterly analytics service delivering global clean hydrogen demand, supply and production cost forecasts to 2040, covering sectors and regions worldwide.

Argus Steelmaking Raw Materials Outlook

Monthly 24-month forecasts for crude steel, iron ore and metallurgical coal, with data-driven insights for smarter sourcing and strategy.

Argus Renewable Gas and Power

Electricity and gas energy attribute certificate prices, news, analysis and market data, bringing transparency to voluntary and compliance energy transition markets globally.

Argus Scrap Markets

Evaluaciones confiables del precio de la chatarra en metales ferrosos y metales no ferrosos.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more