In the past two weeks, the domestic price of Mexican rebar plunged US$66/mt to reach US$628/mt ex-mill.
Despite the hopeful outlook from construction sources two weeks ago, government data show that in the first two months of the year Mexico recorded decreased activity in the housing sector, implying a decrease in supply from weak economic growth.
Prices are not expected to change much in the next two weeks, with little buying activity this week with many firms closed early for Easter.