Mexican HRC prices fell US$8/mt in the last two weeks to settle at US$732/mt ex-mill.
While some sources attribute the decline to lower summer demand from automakers in the US, that trend is not expected to last. Investments in automotive plants in Mexico continue to roll in, such as the announcement from BMW last week that revealed plans for a $1 billion Mexican plant, making the company the latest major automaker to take advantage of the country's growing industrial base and tariff-free access to the US market.
BMW outlined plans to build a factory in the central Mexican city of San Luis Potosi, reducing the German company's dependence on higher-cost plants at home.