Mexican HRC prices fell US$9/mt in the last two weeks to settle at US$497/mt ex-mill.
Although the fall in the price of HRC was lower in this period compared to the trend of recent months, sources are still concerned about the steel sector, especially considering news from the World Bank, which cut growth forecasts for 2015 from developing countries in East Asia and China, warning of "significant" risks from global uncertainty, including the potential impact of a strengthening dollar and higher interest rates in the United States.
Reports from federal financial authorities in Mexico are also pessimistic, warning of further depreciation of the Mexican peso and encouraging industries such as steel to "tighten their belts; production at many mills has already decreased in reaction to the prolonged decline in steel prices.