Steel Products
Mexican Industrial Output Lower than Expected
Written by Sandy Williams
August 16, 2013
Mexican industrial output surprised analysts by falling 2.4 percent in June compared to the same month in 2012 according to the government’s statistic agency Instituto Nacional de Estadística y Geografía. Output was expected to grow by at least 0.1 percent year over year. Compared to June 2012, construction dropped 6.0 percent, manufacturing declined 1.2 percent and mining and utilities fell 2.4 percent and 0.7 percent, respectively.
On a quarterly basis industrial production was flat in June, slipping 0.03 percent from May. Construction fell 1.6 percent from the previous quarter. Manufacturing production, however, sparked some optimism by increasing 0.53 percent in June following a 0.9 percent increase in May.
The GDP forecast for 2013 has been revised to 2-3 percent expansion for the year from 3-4 percent previously forecast by Mexico’s central bank.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.
Steel caucus pushes US trade officials to maintain strong S232 program
The bipartisan Congressional Steel Caucus is pushing for US officials to maintain a robust Section 232 program as they negotiate trade deals with America's trading partners.
Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.
Plate market buzzes with rumors of secret deals from mills
Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.
HR Futures: Forward curve shifts lower, structure maintains
Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present.