Producer prices for Mexican steelmakers decreased 13.6 percent, year-over-year, in May, the eighth consecutive annual decline, according to a SteelOrbis analysis of data from national statistics agency Inegi.
Today Inegi released information on the Producer Price Index (PPI). Producer prices excluding oil and with services increased 2.1 percent, year-over-year, in May. Prices with oil and with services grew marginally 0.1 percent.
The prices of the steel industry correspond to what the Inegi calls "steel complexes." The steepest price contraction was in "steel sheet" (no breakdown of sheet type), down 18.4 percent year-over-year. It is the ninth consecutive annual reduction.
The second steepest decline was in the price of rebar, down 10.8 percent, the eighth consecutive annual decline.
In contrast, the price of steel slab broke the downward trend of the last seven months and in May the price rebounded 2.1 percent, compared to the fifth month of last year.
Beyond the concept of steel complexes, in the manufacture of other iron and steel products, the drop in the price of wire rod stood out with an annual drop of 14.8 percent, the eighth consecutive drop.
The price of iron and steel profiles decreased 2.1 percent, the eighth consecutive annual drop. Iron bars declined 2.0 percent, the second straight annual decline. In steel hand tools, the annual increase was 12.4 percent in May.
Galvanized sheet reported an annual drop of 18.2 percent, it was the eighth consecutive annual drop. Sheet metal cutting and bending fell 1.3 percent, the second drop.