Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Domestic ferrous scrap prices in Mexico increased for most grades across the country amid strengthening demand for scrap from automotive and manufacturing sectors in the Central and Bajío regions. 


However, a market participant told Davis Index that scrap import volumes could get impacted due to a depreciation of the Mexican peso against the US dollar, though that would depend on the results of the US presidential election.


In North Mexico, the weekly Davis Indexes for HMS 1&2 (80:20), P&S 5ft, and shredded rose by MXN50/mt to MXN6,300/mt delivered Mexico consumer, MXN6,350/mt delivered, and MXN6,950/mt delivered, respectively. The index for #1 busheling climbed by MXN300/mt to MXN6,950/mt, while machine shop turnings were flat MXN6,050/mt.


The weekly Davis Indexes in Bajío for HMS 1&2 (80:20) and shredded rose by MXN25/mt to MXN6,325/mt delivered Mexico consumer, and MXN6,375/mt, respectively, while #1 busheling climbed by MXN300/mt to MXN7,050/mt delivered. On the other hand, the indexes for P&S 5ft and machine shop turnings remained unchanged at MXN6,250mt delivered, and MXN5,700/mt delivered. 


Scrap prices in Bajío and Central areas climbed this week across most of the grades amid high demand in the market, according to a market participant from a mill in these regions, who added that prices of HMS 1&2 (80:20) in Central area may rise further as demand strengthens and supply of the grade remains tight.


In Central Mexico, the weekly Davis Indexes for P&S 5ft, machine shop turnings, and #1busheling increased by MXN100/mt to MXN6,450/mt delivered Mexico consumer, MXN4,750/mt delivered, and MXN6,450/mt delivered, respectively. HMS 1&2 (80:20) rose by MXN150/mt to MXN6,050mt delivered Mexico consumer, and shredded climbed by MXN200/mt to MXN6,850/mt.



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