Producer prices from steel complexes in Mexico decreased 3.4 percent, year-over-year, in July. The drop in the price of rebar stood out by 11.8 percent in the same period. In both cases, there have been 22 consecutive months with annual declines, according to an analysis by SteelOrbis of data from the national statistics agency Inegi.
In July, the Producer Price Index (PPI) without oil and with services increased 5.3 percent, year-over-year. Prices with oil and services grew 5.5 percent. Annual general inflation (Consumer Price Index) was 5.6 percent in the same month.
Of the three products that make up the "steel complexes", the most pronounced reduction was in the price of rebar with 11.8 percent. The price of steel slab and "steel sheet" (no breakdown of sheet type) each decreased by 1.5 percent.
Beyond the concept of steel complexes, other annual price reductions were steel profiles with 18.1 percent, wire rod 11.8 percent, galvanized sheet 11.3 percent, wire 7.5 percent, steel bars 6.8 percent, the manufacture of metal structures 6.0 percent.
The price of non-powered hand tools decreased 2.1 percent, primary roughing 1.2 percent and the manufacture of heavy gauge metal tanks 0.6 percent.
In contrast, manufacturing of blacksmithing products increased 6.6 percent, year-over-year, in July. Prices in the manufacture of industrial boilers increased 11.9 percent.