Mexican wire rod prices increased US$20/mt during the last two weeks to settle at US$754/mt ex-mill.
As the Mexican financial system is increasing the credits available for housing construction, the defects that led to problems with Urbi, Geo and Homex developers are also being corrected, which should spur further construction activity soon.
The syndicated loan for US$18 billion, filed last August, is helping to grant bridge loans that are crucial to meeting housing demand that Mexico needs for the short and medium term, said sector sources.