According to a source close to the market, “Much has transpired in Mexico since November 2016. Price increases have been evident through our supply chain and the exchange rate is finally more stable. Reaching 21-22 pesos per dollar provided some opportunities but also hurt other aspects in the steel industry.”
The domestic prices of HRC and CRC have increased drastically in the last four months and on March 9 sources inform SteelOrbis that prices for March delivery are approximately MNX 16,000/mt ($806/mt) ex-works for HRC and MNX 19,000-20,000/mt ($957-1,008/mt) ex-works for CRC. “We expect about the same in April,” a source noted.
According to a source close to SteelOrbis, “Prices for exports of flats from Mexico, which are presently lower than domestic, are at HRC $600-650/mt and CRC at $800-850/mt.”
$1=MNX 19.85