Mexican wire rod prices increased US$42/mt during the last two weeks to settle at US$774/mt ex-mill.
Sources in the housing sector are optimistic of expectations that housing subsides could reach US$1 million in March, which would show that the sector in Mexico is "reactivated".
The State Employees Fund (Fovissste) grew 14 percent from January to February 2014, while the National Housing Commission (Conavi) increased 24.8 percent compared with the same period.
Sources tell SteelOrbis that is why some producers and distributors dare to go for further increases in the prices of long products such as rebar and wire rod. However, official figures show that industrial production in January fell 2.5 percent in annual comparison, marking 14 consecutive months of decline.