In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) increased US$15/mt to reach US$866/mt ex-mill.
While sources applaud the rally in prices, they say that over the past few days prices have stagnated. However, steel producers still believe that along with the rise of the automobile industry, the steel industry production to keep rising this year, with expected production of around 18.5 million tons.
"Many automakers from different countries have been installing in Mexico and that will bring a greater demand for steel," said one source. "The biggest challenge is the recovery of consumer confidence, which has delayed their purchases of durable goods, including vehicles, for another time, due to recent tax changes.”