Mexico’s domestic ferrous scrap prices increased in the Central and Bajío regions on Friday amid anticipated shortages of prime grades in April.
Prices for secondary grades such as #1 HMS are expected to fall by $20-30/mt in the US domestic ferrous scrap market in April, while prices for prime grades such as #1 busheling are expected to trend sideways due to supply constraints in the US and Mexican market, according to participants from Central and Bajío regions.
In Central Mexico, the weekly Davis Indexes for #1 HMS and P&S 5ft rose by MXN400/mt to MXN8,200/mt and MXN8,650/mt delivered Mexico consumer, respectively. Shredded climbed by MXN740/mt to MXN8,800/mt delivered, while machine shop turnings rose by MXN390/mt to MXN8,100/mt and #1 busheling increased by MXN500/mt to MXN8,900/mt delivered.
The weekly Davis Indexes in Bajío for #1 HMS, P&S 5ft, shredded, and machine shop turnings rose by MXN300/mt to MXN9,020/mt delivered Mexico consumer, MXN9,270/mt delivered, MXN9,970/mt delivered, and MXN7,920/mt delivered, respectively. The index for #1 busheling, however, fell by MXN70/mt to MXN9,600/mt delivered.
In North Mexico, the weekly Davis Indexes for P&S 5ft and shredded rose by MXN17/mt to MXN9,650/mt delivered Mexico consumer and MXN9,600/mt delivered, respectively. The index for #1 HMS fell by MXN459/mt to MXN8,460/mt delivered, machine shop turnings declined by MXN213/mt to MXN8,070/mt delivered, and #1 busheling dropped by MXN312/mt to MXN10,325/mt delivered.