Domestic ferrous scrap prices in Mexico increased in the North, Central, and Bajío regions amid continued demand for the material.
Scrap prices in Bajío rose between $15-20/mt and were up in Central and North Mexico by $20/mt, and $5/mt, respectively, as demand outpaced supply in the region.
Mexican mills are struggling to collect scrap in the Central and Bajío regions, causing a surge in scrap prices, according to a market participant from a mill in these regions, who projected that supply would remain tight over the next few weeks at least.
In North Mexico, the weekly Davis Indexes across all grades increased by MXN100/mt to MXN6,467/mt delivered Mexico consumer for HMS 1&2 (80:20), to MXN6,200/mt for machine shop turnings, to MXN6,550/mt delivered for P&S 5ft, to MXN7,250/mt delivered for shredded, and to MXN7,550/mt delivered for #1 busheling on Friday.
The weekly Davis Index in Bajío for HMS 1&2 (80:20) rose by MXN400/mt to MXN7,200/mt delivered Mexico consumer, P&S 5ft increased by MXN297/mt to MXN7,325/mt delivered, shredded climbed by MXN450/mt to MXN7,725/mt delivered, #1 busheling moved up by MXN500/mt to MXN7,575/mt delivered, and machine shop turnings increased by MXN250/mt to MXN5,600/mt delivered.
In Central Mexico, the weekly Davis Indexes increased by MXN400/mt to MXN7,100/mt delivered Mexico consumer for P&S 5ft, MXN5,400/mt delivered for machine shop turnings, to MXN7,100/mt delivered for #1busheling, and to MXN6,750/mt delivered for HMS 1&2 (80:20). The index for shredded increased by MXN350/mt to MXN7,450/mt delivered Mexico consumer.