The price of the Mexican steel plate fell US$70-$80/mt compared to the week of February 11, to reach between US$813-$823/mt ex-mill.
During January, the average price was between US$849-$869/mt, but sources do not expect a further downtrend. Experts predict that the current price level will sustain for at least the first six months of the year, while the economic and industrial plan of the new PRI's government, which started in December, rebounds.
Last year, steel plate production in Mexico was 2.148 million tons, while apparent domestic consumption was 2.940 million tons. Imports increased by 32 percent and exports declined 41 percent compared to 2011's balance of trade.
Representatives in the Mexican steel industry are asking the Minister of Economy to establish a safeguard to protect the domestic industry against unfair imports from those countries that do not have trade agreements, as this threatens the workforce of more than half million jobs and investments planned for over US$11 billion.
For 2013, forecasts predict a full-year increase of 12 percent in Mexican plate's apparent domestic consumption (3.406 million tons).