Producer prices for Mexican steelmakers decreased 15.4 percent, year-over-year, in April, the seventh consecutive annual decline, according to a SteelOrbis analysis of data from national statistics agency Inegi.
Today Inegi released the information on the Producer Price Index (PPI); excluding oil and services, the index increased 3.1 percent, year-over-year, in April. Including oil and services, the index grew 1.8 percent.
Prices within the steel industry correspond to what the Inegi calls "steel complexes," and the steepest price contraction was in "steel sheet" (no breakdown of sheet type), down 20.6 percent, the eighth consecutive annual reduction.
The second most pronounced fall was in the price of steel slab with 7.0 percent, the seventh consecutive reduction. The rebar price decreased 4.8 percent and it is also the seventh consecutive reduction.
The drop in the price of galvanized sheets stood out with a drop of 21.6 percent in April, compared to the price of the same month of 2022.
The producer price of wire rod decreased 11.6 percent, iron and steel profiles decreased 4.9 percent.
In contrast, the price of the painted sheet increased 8.3 percent in April, compared to the same month last year.