In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) decreased by US$7/mt to reach US$837/mt ex-mill.
After sharp declines in previous months, it seems that domestic prices are starting to stabilize, and local producers are optimistic. They say that the automotive industry based in Mexico requires about 4 million tons of special steel to assemble 2.9 million vehicles.
"Currently, much of this material is already produced in Mexico,” said one source, adding that the domestic auto sector is working toward producing parts that are currently mostly imported.