Mexican domestic wire rod prices increased by $7/mt during the last two weeks to settle at US$781/mt ex-mill, after weeks of continuous price decline.
Sources tell SteelOrbis that the demand outlook for wire rod is good, as homebuilders will accelerate the pace of construction to meet the federal government imposed goal to close the year with the construction of 475,000 new homes.
Although housing developers are optimistic and say goals are being achieved, it is mainly due to the reactivation of financing for building projects that were already looming.