Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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December 2019 | North American Steels

Mexican producers could benefit from potential US tariffs on Brazilian slab: Mexico and Canada Highlights

In the flat steel market, Canadian producers normally follow the lead of their US counterparts, but it seems that they have not kept up with the hikes in the US market this time.

Economic data continues to show diverging trends for steel end users in Mexico and Canada. The manufacturing PMI indicator for Mexico slid from 50.4 points in October to 48.0 in November, the lowest level since the start of the survey by IHS-Markit. Worsening of economic conditions led to a decline in sales and subsequently to the contraction in production and input buying. According to the surveyor, participants were concerned about the state of the Mexican economy and market uncertainty in the near term. In Canada, the PMI indicator has been moving up for the past three months, reaching 51.4 points in November. Canadian manufacturers commented on the strength of domestic demand, leading to higher output, while exports sales, especially to the US, dropped. ...


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