In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) fell US$13/mt to reach US$ 670/mt ex-mill.
Despite announcements of increased investments from automotive firms in the country, domestic steel prices have not exhibited any growth. Steel industry sources say the growing inflow of Chinese and Russian steel to the country is distorting the market.
Mexico has registered growth in sales of light vehicles, although there is a marked imbalance between production and domestic consumption, according to sources.