Domestic ferrous scrap prices in Mexico increased for most grades in the North 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), machine shop turnings, and shredded increased by MXN50/mt to MXN5,800/mt delivered Mexico consumer, by MXN38/mt to MXN5,838/mt delivered, and by MXN172/mt to MXN7,000/mt, respectively. The index for P&S 5ft fell by MXN50/mt to MXN5,900/mt delivered, while #1 busheling declined by MXN12/mt to MXN6,488/mt delivered.
Scrap prices in North Mexico could decline by MXN500/mt ($23.6) in October, a market participant with operations in that region said, adding that the specific price range and date of the anticipated decreases remain unknown for now.
The weekly Davis Indexes in Bajío moved up or down depending on grade. The index for HMS 1&2 (80:20) declined by MXN188/mt to MXN6,000/mt delivered Mexico consumer and shredded fell by MXN65/mt to MXN6,650/mt. On the other hand, P&S 5ft and #1 busheling were flat at MXN6,100/mt delivered and MXN6,500/mt delivered, respectively. However, the index for shredded rose by MXN110/mt to MXN5,400/mt delivered.
In Central Mexico, the Davis Index for most grades increased by MXN50/mt. HMS 1&2 (80:20) rose to MXN5,450/mt delivered Mexico consumer, machine shop turnings moved up to MXN4,250/mt delivered, #1 busheling increased to MXN6,200/mt delivered, and P&S 5ft ticked up to MXN5,200/mt delivered. Shredded was the only grade to decline, falling by MXN165/mt to MXN6,553/mt delivered.
($1=MXN21.15)