Mexican domestic hot rolled coil (HRC) prices increased US$28/mt in the last three weeks to settle at US$748/mt ex-mill.
Sources in the flat steel sector are very optimistic because they say they can supply practically all the steel required by the automotive industry, which will help them raise the national value in the industry and eliminate the need to import materials from other countries.
Large investments of Altos Hornos de México (US$2.3 billion in the Fénix project) and Ternium (US$1.2 billion in the Pesquería plant), whose plants will operate at 100 percent capacity in the second half of the year, are focused on the production of high strength steels with specifications that had so far required imports.