Producer prices for Mexican steelmakers decreased 19.8 percent in January 2023, year-over-year, reveals a SteelOrbis analysis of data from the national statistics agency Inegi.
Inegi released the information on the Producer Price Index (PPI) Thursday. Without oil and with services they increased 5.6 percent, year-over-year, in January. With oil and with services they grew 4.8 percent.
The drop of 19.8 percent in January for the steel industry corresponds to what the Inegi calls “steel complexes.” The steepest price contraction was in “steel sheet” (no breakdown of sheet type), down 26.9 percent, steel slab prices down 6.8 percent, wire rod price down 7.9 percent and the rod decreased 3.2 percent.
Galvanized sheet (outside the group of steel complexes) registered an annualized drop of 28.1 percent.
Producer prices in the manufacturing industry increased 4.9 percent, the 110th consecutive monthly increase.
Other prices that affect the industry are 7.7 percent in cargo transportation by truck, 5.6 percent in cargo transportation by rail, 3.3 percent in maritime cargo transportation, and 3.3 percent in cutting and folding sheet metal.
In addition, the price of high-voltage industrial electricity increased 2.3 percent, year-over-year, in January. Medium voltage industrial electricity increased 1.9 percent and customs agency services and intermediation services for cargo transportation increased 1.5 percent.