Mexico’s domestic ferrous scrap prices dropped by around MXN200/mt ($8.8/mt) in the country’s Bajío, Northern, and Central regions on Friday.
The demand for scrap however, has improved in Mexico after the automotive and construction industries resumed production in the country earlier this month. As a result, market participants anticipate prices rising by mid-July despite the current declines.
In northern Mexico, the weekly Davis Index for HMS 1&2 (80:20) fell by MXN485/mt to MXN5,480/mt ($242.7/mt) delivered Mexico consumer on Friday. The index for machine shop turnings fell by MXN210/mt to MXN4,690/mt delivered, and dropped by MXN435/mt for #1busheling to MXN5,735/mt delivered. The index for P&S 5ft also fell by MXN335/mt to MXN5,735/mt delivered Mexico consumer.
The weekly Davis Index in Bajío decreased by MXN300/mt to MXN5,525/mt delivered Mexico consumer for HMS 1&2 (80:20), and remained unchanged at MXN4,550/mt for machine shop turnings. The index for #1busheling dropped by MXN500/mt to MXN 5,525/mt delivered and fell by MXN175/mt to MXN5,500/mt delivered for P&S 5ft.
In Central Mexico, the Davis Index for HMS 1&2 (80:20) decreased by MXN300/mt to MXN4,900/mt delivered and was up by MXN5/mt to MXN4,225/mt for machine shop turnings. The index for #1 busheling in the region fell by MXN200/mt to MXN5,450/mt delivered on Friday and decreased by MXN125/mt to MXN5,300/mt delivered for P&S 5ft.
($1= MXN22.5)