Mexican steel market sentiment mixed for June amid uncertain demand: Platts survey

Sentiment in the Mexican steel market for June 2026 was mixed, with participants split on price direction and cautious about production, according to the latest Platts survey, part of S&P Global Energy.

Of the surveyed producers, distributors, traders, and end-users, 34.5% said they expect steel prices to remain unchanged in June, while an equal 34.5% anticipate price increases. Meanwhile, 30.9% of respondents foresee a decrease in steel prices, reflecting a more divided outlook.

"There is a sentiment that prices will increase," said one respondent, while another added, "There is a downward price perception; as long as mills do not curb supply, prices for long products could continue to move lower."

On the production side, 66.7% of participants expect finished steel production to remain steady in June. Only 9.3% anticipate an increase, while 24.1% foresee a decrease, suggesting a cautious approach amid ongoing market uncertainties.

Inventory levels at the start of June were spread across a range of durations, with the largest share (22.2%) reporting inventories covering 46-60 days, followed by 31-45 days (18.5%) and 0-15 days (16.7%). Most respondents (69.1%) expect inventory levels to remain unchanged through June, while 16.4% anticipate a decrease and 14.5% expect an increase.

Raw material price expectations were also subdued: 61.8% of respondents expect no change in raw material prices, 18.2% foresee increases, and 20% anticipate decreases.

"Moderate increases in scrap prices are expected in June," one market participant said, while another noted, "Steel prices continue to rise, project activity remains limited, competition to secure sales is intensifying, and payment delays from customers are increasing, creating a challenging outlook for 2026."

Overall, the June survey reflects a market in transition, with no clear consensus on price direction and the majority expecting steady production and inventory levels. Uncertainty around demand and competitive pressures remain key themes as the second half of 2026 begins.