In the last two weeks, the price of Mexican domestic cold rolled coil (CRC) fell US$4/mt to reach US$894/mt ex-mill.
Sources expect the small price changes to continue, although not as an indication of an overall downward trend.
Demand prospects for end-use sectors still look good, as Mexico produces 2.9 million cars and exports 2.4 million. These exports represent 26 percent of Mexico’s total exports, unprecedented for the region of Latin America, financial sources said.
Most of these exports are shipped to the United States. Automobile exports increased 11.5 percent in the February-April quarter, the most dynamic in the region.