Prices for domestic Mexican rebar increased US$5mt during the last two weeks to reach the level of US$694mt/ex-mill. According to sources, demand for housing construction has decreased along with mortgage availability-a consequence of the Mexican economy which has not fully recovered from global financial hardship.
The Institute of the National Housing Fund for Workers; (Infonavit) annual target of housing construction fell 38 percent, predicting only 310,000 units in 2013.
"Demand for new homes has remained weak against other options, such as renting or buying existing homes, due in large part to a significant shift in consumer preference," said an analysis by Standard and Poor's.