Mexican domestic hot rolled coil (HRC) prices declined by US$11/mt in the last two weeks to settle at US$747/mt ex-mill.
Amid the automotive investment boom, Mexico must still face the challenge of becoming a “Tier 2” level supplier. The Mexican auto industry currently imports US$20 billion worth of components a year from foreign companies, and sources say it is imperative that Mexican manufacturers bring that income back home.
“Mexico has developed a set of strengths that will allow it to continue to attract new assemblers, in addition to those newly installed,” one source said.