The price of Mexican domestic cold rolled coil (CRC) jumped a significant US$45/mt in the last two weeks to reach US$821/mt ex-mill. Sources attribute the strong uptrend to automotive investments in Mexico that are strengthening demand for flat products.
However, car production in Mexico dropped 0.8 percent in June, while exports to the US grew only 1.0 percent during the same month. On the other hand, exports to Canada grew a healthy 58.6 percent.
"There are positives and negatives because we maintain a significant growth in markets for our country, but Latin America remains our Achilles heel for exports," said Eduardo Solis, president of Mexican Association of the Automotive Industry.