On September 5, SteelOrbis reported rebar prices in Mexico’s domestic market at MXN 10,800-11,100/mt ($602-618/mt) ex-warehouse.
According to sources, rebar prices in Mexico’s domestic market are now approximately MXN 11,000-11,300/mt ($604-620/mt) delivered, excluding VAT. A source roughly estimates ex-warehouse at MXN 10,800-11,000/mt ($593-604/mt). In local currency terms, prices remained steady at the bottom of the range and decreased MXN 100 from the top of the previously reported range. In dollar terms, prices decreased more substantially due to currency fluctuations. The range decreased $9/mt from the bottom of the previously reported range and $14/mt from the top of the same range.
Mills are reportedly discussing MXN price increases, but the domestic market is not expected to adopt such increases in October given the recent global downtrend in raw materials and finished steel market prices. $1 = MXN 17.94 (Sept. 5) $1 = MXN 18.22 (Oct. 3)