Mexican domestic electro galvanized sheet prices returned back to the level of US$924/mt ex-mill last week, after a small US$4/mt jump two weeks ago, when prices reached $928/mt.
Sources tell SteelOrbis that the industry is in a wait-and-see mode--business analysts have pointed out that the revival of the Mexican steel industry depends on the structural reforms of the Federal Government.
In an official tour of Asia, Mexican President Enrique Peña Nieto reiterated that structural changes that are implemented in the coming months could accelerate the pace of economic growth of the country. According to his predictions, the economy could grow more than 5 or 6 percent if they advance the reforms included in the so-called Pact for Mexico, which was sealed between the government and the opposition to facilitate the approval of projects in Congress.
Changes are contemplated in the energy sector and taxes to ensure robust economic growth that exceeds the 2 percent average annual recorded nationwide in the last 12 years.