The price of domestic Mexican wire rod increased $12/mt-ex mill during the last two weeks, to reach $667/mt ex-mill.
Despite the budget cuts derived from the drop in oil prices, Mexican government sources say the National Infrastructure Plan will not be modified and housing subsidies will continue.
Sources say the government’s sustained confidence in the construction sector could be attributed to the increase in wire rod prices, and if there is matched increase in confidence and partnership involvement from the private sector, demand for long products could rise along with the realization of much-needed infrastructure projects.