Mexican plate prices have fallen $30/mt to $817/mt following a $20/mt increase in prices just two weeks ago. The early June increase has been considered a temporary blip caused by the Ministry of Economy's announcement to begin an investigation into plate imports from Russia and Ukraine, according to sources.
As for demand, while certain infrastructure projects are not yet concrete, the US$5 million investment at the ports improves outlook expectations. The Coordinator of Ports and Merchant Marine, Guillermo Ruiz de Teresa, announced the investment of US$5 billion to build two new ports, six enlargements, 12 specialized terminals and facilities, a cruise ship terminal and infrastructure for short sea transport and cabotage.
The official said that President Enrique Peña Nieto has stated that the country will grow in his administration by about 40 percent in this sector. To avoid a bottleneck, however, ports must develop between 60 and 80 percent.