Mexican HRC prices fell US$15/mt in the last two weeks to settle at US$708/mt ex-mill.
Sources tell SteelOrbis cheap imports of HRC are to blame, indicative in the overall influx of steel from foreign producers in the country and growing trade deficit. Imports of steel in Mexico grew 18 percent in the first eight months of the year while exports fell 2.8 percent in the same period, and as long as unfair trade practices from different countries continue, sources expect the trend to remain the same for the rest of the year.