During the last week, construction industry sources in Mexico reported that the price of different construction materials--specifically rebar--increased significantly. However, sources told SteelOrbis that "we do not see the logic in this trend, because the current market is not amenable to increases."
As such, domestic Mexican rebar prices jumped US$35-$50/mt last week to reach the level of US$787/mt ex-mill.
Suppliers to the construction industry said the cost of steel overall will increase by 5 percent, while rebar will increase to 8 percent, and the increase will have a greater impact on private construction.
Downstream, distributor prices are now between US$900-$923/mt, while the price to the final consumer is up to US$978/mt.