Weekly pulse · Week of November 2

Weekly Pulse — November 2, 2026

Freight reversed two weeks of gains, the peso posted an eighth losing week and the electronic MVE started on Nov 1 for the first regime, with the rule still only in advance version.

Published November 2, 2026, with data closed that same day

Drewry WCI: $4,429
FIX exchange rate: $18.7962
Electronic MVE: 1st regime

In brief

Freight fell; the dollar did not
The WCI dropped 3% to $4,429/FEU and the FIX closed at 18.7962, the peso's eighth losing week.
Manzanillo correction
Customs ran 24 hours through Oct 30, not Oct 23 as we said.
The MVE has started
Since Nov 1 it applies to bonded-facility processing; definitive imports stay at Jan 15, 2027, and the rule is still only an SAT advance version. Find your date in the MVE checklist.
No tariff deal
The 50% Section 232 tariff on steel and aluminum remains, and Ebrard expects an answer before year-end.

Rates and FX

Freight eases; the peso does not recover.

Freight changed direction: Drewry's WCI fell 3% to $4,429/FEU on Oct 29, reversing the two weeks of gains we reported earlier. Shanghai–Los Angeles dropped 6% to $7,514, and Drewry expects another Transpacific decline next week because it sees lower US ocean imports in November. The peso, by contrast, kept losing ground: Banxico set the FIX at 18.7962 on Oct 30, 0.7% above Oct 23, its eighth consecutive weekly loss. The Federal Reserve held rates on Oct 28, but two votes to raise them weighed on the currency. The September Asia–Mexico EAX is still unpublished.

What to do this week

If you have not locked December rates from Asia, ask for a fresh quote before accepting the one from two weeks ago. Budget November entries with the FIX near 18.80.

Shall we requote your December shipment? Let's talk

Ports and customs

The MVE has started; Manzanillo ran 24 hours through Oct 30.

A correction to last week's edition: Manzanillo customs did not return to regular hours on Oct 24. ANAM extended 24-hour operation from Oct 26 to 30 to clear cargo backed up by the hurricanes, and regular hours resumed on Saturday, Oct 31. On the rules side, the MVE transition ended on Nov 1 and electronic filing through VUTCE began for processing, transformation or repair in bonded facilities. The Third Amendment to the RGCE that sets this schedule still appears on SAT's site only as an advance version (checked Nov 2). For definitive imports, the date remains Jan 15, 2027.

What to do this week

Confirm with your customs broker which regime you operate under and when the MVE applies to you; here is our MVE checklist. If any container was held in October, review storage charges before paying them.

Want to check your MVE start date? Let's talk

Trade and border

No deal ahead of the US elections.

One day before the US midterm elections, there is still no tariff deal. On Oct 27, Marcelo Ebrard said results on steel and aluminum will probably come after Nov 3 and that he expects an answer from Washington before year-end. On Oct 28, Claudia Sheinbaum acknowledged progress but no agreement on Section 232: the 50% on steel and aluminum remains in force and the fourth round has no date. This tempers last week's optimism, when Donald Trump spoke of a deal being close.

What to do this week

Quote with current tariffs and do not commit to prices that depend on a cut. If you export steel, aluminum or auto parts, have your regional content analysis ready for when terms are known.

Is your tariff code exposed to Section 232? Let's talk

Sources

Every figure in this edition comes from public sources, with data as of November 2, 2026. Freight indexes move week to week: use them as a trend reference, not as a quote.