Mexican domestic hot rolled (HRC) prices increased US$19/mt in the last two weeks to settle at US$733/mt ex-mill.
Mexico currently produces 2.5 million units annually in the automotive industry, and it is likely that the sector will close 2013 with 2.8 million units produced. By 2016, the sector is expected to produce 4.1 million units annually, and thus employment rates are slated to surge, in both auto and auto parts manufacturers.
Also, according to the sources, the sector has fully recovered after the global crisis that hit Mexico in 2009, the worst year in terms of job losses in the recent era. It is expected that by the end of this year the auto parts sector will reach 600,000 total jobs (direct and indirect).