Mexican domestic hot rolled coil (HRC) prices fell US$7/mt in the last two weeks to settle at US$746/mt ex-mill.
Demand from the automotive sector remains strong, despite the price dip, as Mexico now ranks first as a supplier of auto parts, trucks and buses to the US market, and fourth as a supplier of cars to the US, behind Canada, Japan and Germany.
In fact, according to sources, Mexico increased its production capacity of cars to the North American region to 19 percent from 5 percent 20 years ago.