Mexican HRC prices fell US$6/mt in the last two weeks to settle at US$730/mt ex-mill.
Sources tell SteelOrbis that the relative price stability with minimal changes should maintain, as demand from the automotive sector continues its steady growth. Mexico now produces the highest number of vehicles in its history; forecasts indicate that the full-year 2014 production total will reach 3.5 million units.
“The economic model we've had as a country, unlike Brazil, is producing results," one source said. “Brazil’s strategy of automobile production focused on serving domestic consumption, while Mexico wisely focused on exports.”