Mexican domestic rebar prices fell US$8/mt in the last two weeks to reach US$683/mt ex-mill.
Although the economic outlook has started to improve, the recently passed tax reform will impact investment decisions in Mexico, as the disposable income of households and firms will be diminished, according to financial sector sources.
They added that construction investment will remain weak because the recession has continued in the sector and the latest data show that gross fixed investment accumulated a decline of 4.7 percent in November.
Construction spending in Mexico fell 7.4 percent in October compared with the same month of 2012, resulting from a reduction of 7.8 percent in the residential and 7 percent in non-residential segments, according to official sources.