Prices for Mexican domestic hollow structural section (HSS), referenced ASTM-A500, increased US$15/mt in the last two weeks to settle at US$924/mt ex-mill, following a sharp drop.
The price trend is partially due to the current demand trend, even though spending on public works has declined and the financial position of the three major housing companies has led to reductions in the construction sector, according to the Secretary of Finance, Luis Videgaray.
As for public works, he said the government is set to spend more in the second half of the year than the first, a contrast to last year, when they spent more in the first half.
Other sectors affected in the first half of the year was the manufacturing industry, influenced by exports, of which the pace has slowed since mid-2012. In this regard, the Minister of Finance reiterated that Mexico needed structural reforms, because without them, the improvement would be marginal.