In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) increased US$2/mt to reach US$875mt ex-mill.
Flat steel prices that have seen slight rises will lead to a stabilization of prices throughout the second half of the year, sources tell SteelOrbis, as new investments to meet demand from automotive OEMs such as Hyundai, Honda, Kia, among others, have been recently announced.
Currently, Mexico produces 2.9 million vehicles, and official investments announced by Audi, BMW, Daimler, and Nissan-Renaut will allow growth from 2.9 at 4.4 million units by the end of the decade, which will position the country as the sixth largest manufacturer in the world, displacing Brazil and South Korea, according to sources.