Prices for domestic steel plate in Mexico increased US$20/mt in the last two weeks to reach the level of US$847/mt ex-mill. Sources tell SteelOrbis that part of the confidence in prices comes from an announcement from Altos Hornos de México (AHMSA), which expects positive results from the research by the Ministry of Economy regarding illegally importing plate from Russia and Ukraine. If the ministry begins the process of investigation to punish countries who have allegedly evaded duties and taxes on plate, it would help firm up the domestic market.
In addition to pursuing illegal imports, AHMSA--the only producer of steel plate in Mexico--is finalizing their Phoenix Project, a US$2.3 billion investment program to produce steel products that are significantly imported currently.