Mexican wire rod prices fell US$11/mt during the last three weeks to settle at US$749/mt ex-mill.
Decreased construction activity, especially specialized construction projects and civil engineering works, reflect a reduction in demand for construction materials, according to industry sources, who still expect government programs and initiatives to materialize this year.
Mexico's industrial activity continued with weak results in November 2013, as recent reports indicate a contraction of 1.4 percent compared to November 2012, accumulating seven months of declines during the year, based on information from the National of Statistics and Geography Institute (INEGI).
The largest contraction was in the construction sector, which decreased 5 percent in an annual comparison during November.