Mexican steelmakers' producer prices decreased 7.6 percent year-over-year in October, the thirteenth consecutive annual decline, according to an analysis by SteelOrbis of data from the national statistics agency Inegi.
In October, the Producer Price Index (PPI) without oil and with services increased 1.6 percent, year over year. Prices with oil and services grew 1.3 percent. Annual general inflation (Consumer Price Index) was 4.3 percent in the same month.
The prices of the steel industry correspond to what Inegi calls "steel complexes." The price drop began in October 2022. In the same month of the current year, the most pronounced price contraction in the three products that comprise it was in rod with an annual drop of 14.0 percent. It is the thirteenth consecutive annual decline.
The price of "sheet steel" (without sheet type breakdown) decreased 6.8 percent and the price of steel slab decreased 4.1 percent, year-over-year in October. These losses are the fourteenth and fourth consecutive annual losses, respectively.
Beyond the concept of steel complexes, other annual price reductions were in galvanized sheet with 18.6 percent, wire rod 17.1 percent, wire 12.9 percent, steel bars 12.2 percent, wire products 6.7 percent, profiles of iron and steel 6.4 percent, sheet cutting and bending 4.9 percent.
The price of high voltage electricity increased 8.6 percent in October, compared to the same month last year.