Mexican longs markets decrease further

Mexico's domestic long product markets have continued to decline since last week as rebar and wire rod offers have fallen to lower ranges due to the continued sluggishness in demand.

Rebar offers in the domestic Mexican market now range, on average, from 6,400-6,700/mt (US$480-$495/mt) delivered to the customer, while about a week ago they were in the range of 7,000-7,200 pesos/mt (US$525-$540/mt) delivered.

Low carbon wire rod in the domestic Mexican market range approximately 6,800-7,000/mt (US $510-$525/mt) delivered to the customer, while a week ago they were at 7,300-7,500/mt pesos/mt (US$552-$567/mt) delivered.

The trend for rebar and wire rod products is still slightly down despite the low inventories and mills’ desire to raise prices.