In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) fell US$36/mt to reach US$ 746/mt ex-mill.
Like other flat steel, the trend of falling prices for CRC continues globally. In Mexico, two of the factors that are directly impacting the market are lower oil prices and the 30 percent depreciation of the Mexican peso against the dollar.
According to financial sources, "the US could help stimulate other economies with its strong dollar and import more, but that might come at the expense of the US steel industry itself, which is very risky.”
On the other hand, the lower steel consumption in China is pushing prices and stimulating the country's exports to emerging markets.