The price of domestic Mexican wire rod increased US$2/mt ex-mill during the last three weeks, to reach $760/mt ex-mill.
Despite the slight uptick in prices, the suffering construction industry remains one of the most significant causes of the economic stagnation in Mexico , due to changing patterns of housing and underspending of the budget for public investment after the change of administration.
With a GDP growth rate of 1.6 percent in the second quarter, the Mexican economy during the first half of the year grew 1.7 percent, a disappointing rate, according to sources, especially considering three consecutive semesters align with growth rates below 2 percent.