In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) fell US$36/mt to reach US$ 634/mt ex-mill.
The Mexican appetite for Chinese flat steel product, far from diminishing, has increased by a booming automotive sector, which accounts for 10.6 percent of the market demand. According to industry sources, in 2015 the consumption of coated steel for the automotive sector will grow 7.1 percent.
Sources are concerned about the rise in demand contrasting with the decline in prices, and say if the Mexican government does not do something about the flood of Chinese imports, the domestic steel industry could be irreparably harmed.