Prices for domestic Mexican plate dropped US$10/mt during the last two weeks to reach US$837/mt ex-mill.
However, government sources tell to SteelOrbis that there is an interesting possibility for steel plate on the horizon: Pemex Exploration and Production (PEP) launched a project investment of over US$54 billion to purchase 10 offshore platforms with a depth capacity of 9,146 meters, in order to stop relying on platforms leased to private companies.
Pemex has only its own platform, the Holkan, dating from 1982, and the company is expecting to receive two others in 2015 that are under construction in Singapore. The remaining platforms purchased with the investment could be an opportunity for Mexican steel demand, source said.