Mexican steel producer prices posted their second consecutive annual increase in November, rising 0.9 percent. This is the second increase after 24 consecutive months of negative trend, according to SteelOrbis' analysis of data from the national statistics agency Inegi.
In November, the Producer Price Index (PPI) excluding oil and with services increased 6.5 percent year-over-year. Prices with oil and with services increased 6.4 percent year-over-year. Annual Consumer Price Index inflation was 5.5 percent in the same month.
The price increase recorded in the "steel complexes" was due to higher prices for steel ingots and plates by 5.0 percent and 2.4 percent year-over-year for steel sheet.
In contrast, the price of the rebar remains in the negative trend that began in October 2022 (26 months ago). In November the decrease was 9.4 percent.
Beyond the concept of steel complexes, other annual reductions in steel products in prices were steel profiles with 4.2 percent, wire rod decreased 2.9 percent, non-powered hand tools decreased 2.0 percent, steel bars decreased 1.3 percent and the manufacture of metal structures decreased 0.2 percent in price.
In contrast, increases were recorded in heavy gauge metal tanks with a rise of 1.3 percent in price, iron and steel wires with 1.5 percent, wire products 4.9 percent, light gauge metal containers 5.4 percent, and sheet metal cutting and bending 5.7 percent.
In addition, enameled metal parts rose 6.3 percent, galvanized steel sheet 8.0 percent, ironwork products increased 8.4 percent, iron and steel pipes and poles 8.8 percent and the price of industrial boilers 11.2 percent, year on year, in November.