In the past two weeks, the domestic price of Mexican rebar fell US$40/mt to reach US$560/mt ex-mill.
While this decline represents the second consecutive drop in prices, sources tell SteelOrbis that the housing sector has hit bottom, and the execution of public investment in the second half of the year will accelerate once the final stages of procurement launch new projects.
This suggests that the construction sector, after seven long quarters of contraction in the annual rate, will finally contribute to economic growth from the current quarter.