In the past two weeks, the price of domestic Mexican rebar plunged US$75/mt to reach US$600/mt ex-mill.
The significant drop in prices is directly related to the crisis in the Mexican construction sector. Industry sources tell SteelOrbis that the “slow execution of public spending is affecting the performance of companies the most in the second quarter of 2014.”
And while financial sources are still waiting for a recovery in the second half of 2014, sources say that next year’s local elections could mean that the government keeps resources close for campaigns.