In the past four weeks, the domestic price of Mexican rebar increased US$15/mt to reach US$675/mt ex-mill.
Although further upward movement is forecasted for the near term, the long-term Outlook is not encouraging, according to SteelOrbis sources.
The construction industry remains mired in negative numbers after production levels fell 3.9 percent in April, accumulating 12 months without growth.
The construction industry particularly suffered after the collapse in sub-building, civil engineering, and specialized in construction works in April.
On the other hand, once Mexican steel rebar manufacturers find out if a final fee will apply on shipments to the United States in September, a positive result could open up the US market to Mexican prodcers once again and alleviate some of the demand stagnation domestically.