In the past two weeks, the domestic price of Mexican rebar increased US$70/mt to reach US$630/mt ex-mill.
However, sources tell SteelOrbis that mills are asking for up to $50/mt more and their determination for firmer prices should continue, especially in light of the recent decision by the US DOC regarding rebar exports to the US. With Mexico essentially out of the US market now (unless the US ITC rules that Mexican rebar has not caused injury to the US market—the ruling is scheduled for later this month), mills have had to refocus on the domestic market.
Fortunately, the Mexican domestic market should soon be able to support price increases, if the construction sector indeed closes the year with a 2 percent increase in activity, as industry sources predict.