Mexican domestic plate prices increased about US$15/mt in the last two weeks to settle at US$857/mt-ex-mill.
Plate demand could increase, sources say, from infrastructure projects surrounding the energy reform initiative presented by the federal government recently, which has attracted the interest of multinational firms such as Exxon, Chevron, Royal Dutch Shell, Repsol and Pacific Rubiales Energy Corp., according to statements made by managers of each.
Mexican companies will also benefit, such as Grupo México, which acquired Perforadora Mexico (Pemsa) in 2010 for US$240 million; Carso Infraestructura y Construcción, through Servicios Integrales GSM and Swecomex, one of the largest builders of offshore platforms; and Altos Hornos de México (AHMSA), the only producer of steel plate in Mexico.