Prices for domestic Mexican cold rolled coil (CRC) recovered US$8/mt ex-mill in the last two weeks to reach the level of US$772/mt ex-mill. Increased demand is coming from increased investments in the automotive sector, especially in the industrial region of the Bajio; however, there is still the challenge of strengthening national supply.
The National Chamber of Industry (CANACINTRA) announced that although investments in sectors such as automotive are high, 90 percent of its procurement is from outside sources, so the chamber will work with the federal government to make sure these investments are of a mixed nature.
For his part, the Minister of Economy, Ildefonso Guajardo, presented last week four action lines for the automotive industry: strengthening the domestic market, improving the business environment, technological development and innovation, and market diversification.