In the past two weeks, the domestic price of Mexican rebar fell US$8/mt to reach US$597/mt ex-mill.
The local market has been feeling the effects of the recent reduction in the projected growth in Mexico by the International Monetary Fund (IMF) of 3.2 percent to 3 percent for 2015 and from 3.5 percent to 3.3 percent for the following year, represents a less encouraging picture that provided by the Mexican federal government, which forecasts between 3.2 and 4.2 percent, industry sources said.
This decrease in the prospects of the IMF is a response to a volatile global environment, sources say, and with the reduction of oil prices to levels not seen since 2009, public finances are affected, implying a reduction in investment in different fields, including infrastructure and private work that affects the demand for rebar.