In the past two weeks, the price of domestic Mexican rebar increased US$10/mt to reach US$605/mt ex-mill.
The construction industry of Mexico reduced its growth expectations for this year, while the Latin American country faces a critical drop in oil prices that has forced them to reduce their spending, said a source from that sector.
The new estimate is 4.4 percent lower than projections at the end of 2014, before a drop in oil prices led to the government cutting public spending in January by 0.7 percent of GDP.
However, Mexico still waiting for strong private investment, especially in the recently liberalized oil industry, the source said.