Mexican long steel prices likely to extend losses in H2 July: survey
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Update time : 2023-07-18 16:11:20
Mexican long steel prices are expected to edge further lower while flat steel prices are likely to remain stable, the S&P Global Commodity Insights' monthly survey of Mexican steel sentiment in July showed.
The survey of Mexican producers, distributors, traders, end-customers, profile sellers and service centers showed that the finished steel price development index was at 47.1, whereas the index for long steel was at 40 and the flat steel index stood at 51.3. A reading of 50 indicates stability.
Each respondent in the survey reported cautious market activity due to the lack of demand. Distributors and profile sellers were the least bullish, with an average reading to the finished steel price development index of 46.1 and 40, respectively. Producers, however, were the most bullish with an index reading of 54.5.
