Mexican HRC prices increaed a mere US$1/mt in the last three weeks to settle at US$739/mt ex-mill.
Sources tell SteelOrbis that flats prices are showing some stability and the trend is expected to continue in the fourth quarter.
"Mexico is receiving major investments in the automobile industry, surprisingly," said a source at Nissan Motors Co, the largest investor in Mexico’s auto sector.
In the last decade, the most significant investments in auto part manufacturing plants were from Jatco (US$545 million), Honda Motor (US$470 million), Nippon Steel & Sumitomo Metal (US$350 million), and Bridgestone (US$336 million).