In Mexico, producer prices rose 5.3 percent over the previous year in December. However, SteelOrbis' examination of data released Monday by the national statistics office Inegi shows that producer prices in the steel sector fell by 24.8 percent.According to Inegi, the Producer Price Index (PPI) rose 5.3 percent while oil was present and 4.9 percent when it wasn't. Both situations qualify as services.
However, the PPI fell by 24.8% in steel complexes in December 2022. This decrease is explicable because the yearly price rise in December 2021 was 93.9 percent.
The price of sheet steel fell by 33.0 percent, while producer prices for steel slabs fell by 8.5 percent, driving the price decline in the steel industry. Comparing December to the same month in 2021, wire rod prices fell by 7.2% and rebar prices by 3.6%.
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