In the past two weeks, the domestic price of Mexican rebar increased US$10/mt to reach US$640 ex-mill.
Although the price trend represents a surge in the past two weeks, prices are relatively stable with international levels, especially in he US, the largest market in NAFTA.
Looking toward the prospects for end-use demand, federal government spending in Mexico grew 10 percent in January compared with the same period of 2013, adding more than US$15.1 billion, according to official sources. However, the steel industry is not optimistic. Construction sector activity fell 2.5 percent year-on-year in January.