The price of domestic Mexican wire rod fell US$30/mt during the last two weeks, to reach $655/mt ex-mill.
Financial sources claim that business confidence in investment has declined in Mexico, as the index measuring the right time to invest in the construction sector fell to 38.2 points, according to sources.
Mexico is experiencing an impasse in investment over the issue of public works, sources say, and it is unknown which projects will be canceled from cuts to public spending and the delay in payment to suppliers from states and municipalities.
There is also caution in the construction sector regarding the currently high exchange rate and speculation that interest rates will rise.