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The Mexican steel market has recently seen price increases. Prices for both rebar and hot-rolled coil rose in the week ending December 4th. 30P110 Grain oriented electrical steel, This was primarily driven by steel mills' proactive price increase plans: rebar is planned to increase in two phases, with each phase raising prices by approximately $29 per ton; hot-rolled coil successfully implemented a $25 per ton price increase this week.
Specifically, rebar delivery prices in Monterey rose to approximately $779-806/ton, while in Bashio they rose to approximately $768-795/ton. Hot-rolled coil prices in Monterey also reached their highest level since mid-August. 30P110 Grain oriented electrical steel, Although overall market demand remains weak, restocking activities by distributors in anticipation of potential future price increases and changes in import policies are providing some support for current prices.
Market sentiment is divided on future price trends. In Monterrey, some traders doubt whether year-end demand can support current high prices. However, in Bacchio, market participants are more focused on upcoming policy changes. 30P110 Grain oriented electrical steel, The Mexican government plans to significantly increase import tariffs on some steel products, potentially reaching 50%, in early 2026, prompting some buyers to stock up in anticipation of future cost increases.
In addition, external markets are also having an impact. Tight supply in the US has led to higher prices for hot-rolled coils, narrowing the price gap with the Mexican market and creating conditions for Mexican producers to raise prices. Most market participants expect steel prices to rise further at the beginning of next year, with the arrival of the traditional New Year purchasing season and the implementation of import tariffs.
