Mexican domestic hot dipped galvanized (HDG) prices fell US$18/mt in the last two weeks to reach US$705/mt ex-mill.
After yet another decline in prices of HDG, industry sources said it is “no wonder” that the Governor of the Bank of Mexico, Agustín Carstens, was so nervous and cautious when he announced in the Senate that in the coming months or years, the US Federal Reserve rates will move their levels from zero to higher ranks, which can lead to capital outflows in Mexico and may have an impact on inflation and the exchange rate.