In the past two weeks, the domestic price of Mexican rebar increased US$7/mt to reach US$672/mt ex-mill.
According to sources, long steel products are beginning to see “the light at the end of the tunnel.” A surge of demand is expected this year, following the January 21 announcement by the federal government to allow investment of about 370 billion Mexican pesos (US$26.7 billion) in the construction of 500,000 homes.
While rebar purchasing activity will not commence for those investments for while, the outlook is already having positive impact on the market.