The price of domestic Mexican wire rod increased US$5/mt exmill during the last three weeks, to reach $767/mt ex-mill.
However, the outlook for long steel products is not as optimistic as the short-term price trend. The housing sector in Mexico will take at least five years to capitalize again, sources tell SteelOrbis, because despite encouraged home purchases through credit expansion, the market still has not finished assimilating financial and tax changes that were implemented in the country.