Mexican domestic plate prices increased by US$12/mt in the last two weeks to settle at US$842/mt-ex-mill.
The boost from demand looks to be a long-term trend, according to sources and Alonso Ancira Elizondo, President of the Board of Directors of AHMSA, who said that in a maximum period of three years, cars in Mexico will be manufactured with the steel produced in the company's Monclova, Coahuila site.
AHMSA is the only producer of steel plate in Mexico and the new Steckel Mill will not only allow the company a strategic steel supply in the country to help avoid imports, but also the automotive industry will develop and grow further with local steel as well as oil platforms.