Price growth in the Mexican ferrous scrap market slowed down this week to an average increase of MXN188/mt ($9.49/mt) from MXN318/mt last week.
Scrap shortages and continued demand from the southern US have kept ferrous scrap prices high in the Mexican market, while tight supply has generated competition among buyers seeking to secure material.
The weekly Davis Index in North Mexico for #1HMS remained unchanged at MXN9,633/mt ($486/mt) delivered Mexico consumer on Friday, P&S 5ft rose by MXN142/mt to MXN10,975/mt delivered, and shredded climbed by MXN292/mt to MXN11,075/mt. Machine shop turnings fell by MXN87/mt to MXN8,738/mt delivered and #1 busheling prices were up by MXN425/mt to MXN11,675/mt delivered on Friday.
In Central Mexico, the weekly Davis Index for #1HMS climbed by MXN250/mt to MXN11,000/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN200/mt to MXN11,750/mt delivered. Shredded increased by MXN200/mt to MXN11,550/mt delivered and machine shop turnings rose by MXN200/mt to MXN9,700/mt delivered. The index for #1 busheling went up MXN150/mt to MXN11,950/mt delivered. Prices for this grade have continued to climb north for the fourth successive week and increased to their highest level in the country in Central Mexico today.
Bajio Mexico’s weekly index for #1HMS climbed by MXN266/mt to MXN9,633/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN250/mt to MXN10,533/mt delivered. Shredded increased by MXN108/mt to MXN10,675/mt delivered, while machine shop turnings increased by MXN100/mt to MXN8,883/mt delivered and #1 busheling rose MXN350/mt to MXN11,683/mt delivered.
(MXN1=$0.05)