Domestic ferrous scrap prices were mostly flat in North Mexico but varied by grade in Bajío and Central areas amid strong demand from the automotive and manufacturing industries.
In North Mexico, the weekly Davis Indexes for HMS 1&2 (80:20), P&S 5ft, and shredded were flat at MXN5,800/mt delivered Mexico consumer, MXN5,900/mt delivered, and MXN7,000/mt delivered, respectively. The index for machine shop turnings moved up by MXN12/mt to MXN5,850/mt delivered, while #1 busheling rose by MXN162/mt to MXN6,650/mt.
Prices in the North are expected to rise by MXN150/mt ($7.09) for some grades amid strong demand from the auto industry, a market participant told Davis Index, while those in the Bajío region could fall as mills in that region are mulling price drops.
The weekly Davis Indexes in Bajío for HMS 1&2 (80:20) rose by MXN51/mt to MXN6,051/mt delivered Mexico consumer and #1 busheling increased by MXN92/mt to MXN6,592/mt. On the other hand, P&S 5ft and machine shop turnings fell by MXN42/mt to MXN6,058/mt delivered and MXN5,358/mt delivered, respectively. Shredded decreased by MXN351/mt to MXN6,299/mt delivered on Friday.
In Central Mexico, the weekly Davis Index for HMS 1&2 (80:20) rose by MXN88/mt to MXN5,538/mt delivered Mexico consumer, P&S 5ft moved up by MXN788/mt to MXN5,988/mt and machine shop turnings increased by MXN38/mt to MXN4,288/mt delivered. However, shredded fell by MXN419/mt to MXN6,134/mt and #1busheling decreased by MXN75/mt to MXN6,125/mt.