Producer prices from steel complexes in Mexico decreased 5.3 percent, year-over-year, in November. It is the 14th consecutive annual decline, according to an analysis by SteelOrbis of data from the national statistics agency Inegi.
In November, the Producer Price Index (PPI) excluding oil and including services increased 1.7 percent, year-over-year. Prices including both oil and services grew 1.2 percent. The annual general inflation (Consumer Price Index) for the same month was 4.3 percent.
The prices of the steel industry correspond to what Inegi calls "steel complexes." The price drop began in October 2022. In November, the largest price drop of the three products that comprise it was in the rebar with an annual drop of 10.4 percent.
The price of "sheet steel" (without sheet type breakdown) decreased 4.2 percent and the price of steel slab decreased 4.1 percent, year-over-year in November.
Beyond the products of the steel complexes, other annual price reductions were in iron and steel wires with a drop of 12.8 percent, the price of wire rod decreased 12.6 percent, galvanized sheet 12.0 percent, steel bars steel decreased 10.9 percent, iron profiles 6.0 percent, the price of mineral coal decreased 5.1 percent, compared to November of last year.
Other decreases were in wire products with 4.8 percent, year-over-year, and metal structures with a decrease of 2.0 percent.
In contrast, industrialists face higher electricity costs, with high voltage electricity increasing 7.1 percent. Rail freight transportation increased 7.0 percent and motor freight transportation rates increased 5.7 percent.