Domestic ferrous scrap prices declined for most grades in the Bajío and Central areas of Mexico due to weak demand on Friday.
Ferrous scrap prices in the Bajío and Central areas have decreased by around $200/mt over the past three weeks, but market participants anticipate prices to hold at current levels after the latest round of declines over the next few weeks. A stabilization in scrap prices will allow recyclers to sell more volumes to mills, a scrap dealer from Bajío told Davis Index.
In Northern Mexico, the weekly Davis Index for HMS 1&2 (80:20), shredded, and P&S 5ft was unchanged at MXN5,300/mt ($237.8/mt) delivered Mexico consumer, MXN5,350/mt delivered, and MXN5,450/mt delivered, respectively, on Friday. The index for machine shop turnings increased by MXN150/mt to MXN4,450/mt delivered but fell for #1 busheling by MXN50/mt to MXN5,750/mt delivered.
The weekly Davis Index in Bajío for HMS 1&2 (80:20) was unchanged at MXN5,300/mt delivered but fell dropped for machine shop turnings by MXN25/mt to MXN 4,450/mt delivered and decreased for #1 busheling by MXN50/mt to MXN5,100/mt delivered. The index for shredded and P&S 5ft was unchanged at MXN5,300/mt delivered and MXN5,400/mt delivered, respectively.
In Central Mexico, the Davis Index for HMS 1&2 (80:20) fell by MXN50/mt to MXN4,550/mt delivered and was flat at MXN4,000/mt delivered for machine shop turnings. The index for #1 busheling in the region fell by MXN50/mt to MXN5,500/mt delivered on Friday. The Davis Index for P&S 5ft and shredded remained unchanged at MXN5,000/mt delivered and MXN4,900/mt delivered, respectively.