Mexican domestic hot dipped galvanized (HDG) prices fell US$21/mt in the last two weeks to reach US$938/mt ex-mill.
Sources tell SteelOrbis that the supply of galvanized sheet is increasing, which has put pressure on prices even though demand is relatively solid.
Financial sources say the Mexican automotive industry will contribute between 4 and 5 percent of the country’s GDP over the next two years, up from the 3.1 percent it currently represents. Not only are exports to the US and elsewhere expected to increase, but also new car demand from the domestic population.