Ferrous scrap prices continued to trend down for the second successive week, declining by an average of MXN267/mt ($13.22/mt) amid softening steel prices in the region.
The weekly Davis Index for primary scrap like #1 busheling declined by MXN686/mt delivered to MXN12,598/mt in Northern Mexico where demand for the grade was the weakest. The index for #1 HMS fell by MXN619/mt to MXN9,957/mt, while P&S 5ft decreased by MXN264/mt to MXN11,636/mt delivered. Shredded went down by MXN128/mt to MXN11,988/mt delivered, and machine shop turnings remained unchanged at MXN9,445/mt delivered by Friday.
In Central Mexico, the weekly Davis Index for #1 HMS declined by MXN250/mt to MXN11,200/mt delivered Mexico consumer on Friday, while P&S 5ft fell by MXN250/mt to MXN12,400/mt delivered. Shredded decreased by MXN250/mt to MXN12,050/mt delivered, while machine shop turnings fell by MXN200/mt to MXN10,100/mt delivered. The index for #1 busheling decreased by MXN200/mt to MXN12,750/mt delivered.
Bajio Mexico’s weekly Davis Index for #1 HMS decreased by MXN174/mt to MXN10,063/mt delivered Mexico consumer on Friday, while P&S 5ft fell by MXN465/mt to MXN11,177/mt delivered. Shredded went down by MXN152/mt to MXN11,981/mt delivered, while machine shop turnings fell by MXN134/mt to MXN9,227/mt delivered and #1 busheling decreased by MXN239/mt to MXN12,347/mt delivered by Friday.
($1=MXN20.19)