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Supply woes drive Mexican steel prices to 13-year highs

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Listen: Supply woes drive Mexican steel prices to 13-year highs

A long-standing regional supply shortage, aggravated by COVID-19 impacts, has prompted steel prices in Mexico to jump to 13-year highs, while local demand is yet to recover.

Higher raw materials prices, coupled with a strong US dollar, were also drivers of a trend that is not expected to end in the short term.

Adriana Carvalho, S&P Global Platts managing editor for Latin American metals, and Claudia Cardenas, pricing specialist of Mexican metals pricing, examine the trends influencing the markets and present the latest updates on Platts methodology and specifications for Mexican flat steel pricing.