Chip Drought Hits Mexico Hard as Auto-Parts Bonds Take a Beating
- Nemak and Metalsa among the worst-performing Mexican bonds
- Companies’ sales are suffering on crimped U.S. auto production
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As semiconductor shortages roil global supply chains, few auto-parts suppliers have been as hard hit as those in Mexico.
Nemak SAB and Metalsa SA -- makers of engine blocks, transmission cases, bumpers and fuel tanks that make their way into automobiles assembled around the world -- have seen their bonds post the worst returns among emerging-market peers over the past six weeks.