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Over the last month the average price of steel products, mainly wire rod and rebar, on the Mexican market has increased nearly 10%, analysts with Mexican bank IXE said in a report.
The price of steel products in Mexico has leapt almost 60% since the beginning of the year, IXE said.
Increased energy, iron ore and transportation costs have pushed the prices up.
Analysts previously forecast much lower increases for 2008 in Mexico, of around 6-7%, though local steelmaker Ahmsa (BMV: AHMSA) announced in December it would raise prices 30% this year.