The price of domestic Mexican wire rod fell US$50/mt during the last three weeks to reach $647/mt ex-mill.
After prohibitively-high export prices of wire rod to the US were reduced by a US DOC ruling earlier this month that dropped antidumping margins from Deacero down to 2.13 percent, the Mexican domestic market followed suit.
However, industry sources say that domestic demand is not strong enough for the lower prices to make much of a difference. Instead, the market needs a better performance from the Mexican economy, specifically the impact election results will have on public spending adjustments.