Producer prices for Mexican steelmakers decreased 22.3 percent in November, year-on-year, according to an analysis by SteelOrbis with data from the national statistics agency Inegi. In comparison, producer prices saw a 94.8 percent increase year-on-year in the same month of 2021.
Inegi’s Producer Price Index (PPI) release also said the index, including services but excluding oil, rose 5.9 percent in November, year-over-year. Excluding both oil and services, the index rose 5.7 percent.
The data for the steel industry corresponds to what the Inegi calls steel complexes; of this group, the sheet steel index decreased 29.8 percent, slab decreased 8.1 percent, wire rod decreased 8.1 percent, and rebar decreased 2.8 percent.
The price reduction is in stark contrast to November 2021, when the sheet steel index recorded a year-on-year increase of 115.3 percent, while slab increased 86.2 percent, wire rod increased 50.6 percent, and rebar increased 39.4 percent.
On a month-over-month basis, excluding oil and services, the index decreased 0.2 percent. In the steel industry, the index decline 2.8 percent overall, while the index for sheet steel decreased 3.6 percent, slab was down 0.2 percent, rebar was down 2.8 percent, and wire rod was down 3.6 percent.