Mexican ferrous scrap prices declined for the second successive week on Friday after buyers continued to prefer imports over domestic scrap.
Ferrous scrap prices declined by an average of MXN50/mt ($2.90/mt) despite strong demand. Prime grades like #1 busheling which remain in limited supply were rangebound, though readily available secondary grades like #1 HMS declined.
The most pronounced decrease was witnessed in the Bajío region where the weekly Davis Indexes for both #1 HMS and machine shop turnings fell by MXN183/mt to MXN10,373/mt and MXN9,533/mt delivered, respectively.
Bajío Mexico’s weekly index for P&S 5ft decreased by MXN17/mt to MXN11,600/mt delivered. Shredded decreased by MXN17/mt to MXN12,050/mt delivered, and #1 busheling remained unchanged at MXN12,643/mt delivered.
The weekly Davis Index in Northern Mexico for #1HMS decreased by MXN75/mt to MXN10,138/mt delivered Mexico consumer on Friday, while P&S 5ft and shredded trended flat at MXN11,938/mt delivered and MXN12,050/mt, respectively. Machine shop turnings declined by MXN28/mt to MXN9,513/mt delivered and #1 busheling was rangebound at MXN12,933/mt delivered.
In Central Mexico, the weekly Davis Index for #1 HMS dropped by MXN150/mt to MXN11,500/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN50/mt to MXN12,650/mt delivered. Shredded was flat at MXN12,250/mt delivered, machine shop turnings decreased by MXN150/mt to MXN10,300/mt delivered, and #1 busheling remained unchanged at MXN12,950/mt delivered.
($1 = MXN19.89)