Mexican domestic hot dipped galvanized (HDG) prices increased US$25/mt in the last two weeks to settle at US$913/mt ex-mill. Part of the increase is attributed to boosts in demand from the construction of industrial parks, distribution centers, terminals and logistics.
One of the companies that has contributed to this accelerated industrial reconfiguration is Vesta, a real estate corporation that has more than 1 million square feet of leasable area in more than 85 warehouses. This company recently went public to fund its growth plans.
Vesta and Nissan are developing a new supplier park that will be next to the Japanese plant in Aguascalientes; the park will cost US$57 million during the first stage and initially, seven vendors will spread over five buildings with an area of 57 hectares, with the potential to expand in the future. Currently, POSCO is installed there and a building will soon be built for Nissan operations, among others.