Reflecting the biggest increase in recent weeks, Mexican domestic hot rolled coil (HRC) prices rose $15/mt since early June to $719/mt. The increase has largely been attributed to the Ministry of Economy recently initiating a review of specialty steel imports, in addition to increased automotive development. In the next five years, at least 60 Japanese automotive companies with investments of up to $600 million will reach the Bajio region, according to industrial real estate sources.
Domestic auto production climbed at a 12 percent annual rate in May 2013 while exports rose 3.7 percent, according to the president of the Mexican Association of the Automotive Industry (AMIA), Eduardo Solís. He stated expectations that the US market will end 2013 with sales of about 14 million units, 10 percent of which will have come from Mexico.