Russia’s invasion of Ukraine is already having an impact in the Mexican steel industry, according to media reports.
Mexico is an importer of certain steel products from the CIS region, and the increased cost of materials are already impacting the local industry.
A media report said logistics costs rose 10 percent from an undisclosed base. Iron ore and scrap prices also increased, a media report by Excelsior said.
Appreciated prices should also affect the local metal-mechanic industry. The media report noted increased raw materials and ultimately steel prices would result in higher costs for the local civil construction sector.
Mexico also imports oil and other byproducts from the region.