For the fourth consecutive week, the price of Mexican domestic electro-galvanized sheet has maintained at the level of US$904/mt ex-mill.
Although prices are stable, demand is steady, as 90 percent of electro-galvanized steel is absorbed by automotive manufacturers due to its superior ability in soldering, molding, and painting, giving the product a natural and increased niche in automotive assemblers and their value chain that have investments in different states of Mexico.
Nuevo León, for example, saw investments of US$895 million during the first quarter of the year, including a Canadian company with US$50 million, a Japanese company with US$100 million, among others, according to government sources.
The state also has the advantage of serving as a logistics service platform, as 80 percent of all exports coming out of Mexico to the US pass through Nuevo Leon as a logistics port. Additionally, the state of Queretaro provides 15 percent of the nation's automotive production, becoming the domestic leading provider of assemblers.