Weekly Mexican ferrous scrap prices rose by MXN240/mt on average amid strong demand and limited supply.
Tight supply continues to challenge scrap yards across Mexico with some yards having to import the material to meet mill demand. Moreover, with US domestic scrap prices settling at an increase of $50-60/gt earlier this week against May settled prices, import prices of ferrous scrap into Mexico are also likely to get impacted.
The weekly Davis Index in Northern Mexico for shredded increased by MXN396/mt to MXN10,613/mt ($533/mt) delivered Mexico consumer on Friday, while machine shop turnings rose by MXN110/mt to MXN8,750/mt delivered and #1HMS climbed by MXN40/mt to MXN9,128/mt. P&S 5ft increased by MXN25/mt to MXN10,338/mt delivered and #1 busheling prices were up by MXN150/mt to MXN10,888/mt delivered on Friday.
In Central Mexico, the weekly Davis Index for #1HMS climbed by MXN83/mt to MXN9,150/mt delivered Mexico consumer on Friday, while P&S 5ft fell by MXN133/mt to MXN9,800/mt delivered. Shredded increased by MXN25/mt to MXN10,325/mt delivered, machine shop turnings rose by MXN287/mt to MXN8,425/mt delivered, and #1 busheling dropped MXN63/mt to MXN10,950/mt delivered today.
Bajio Mexico’s weekly index for #1HMS climbed by MXN250/mt to MXN10,600/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN250/mt to MXN11,000/mt delivered. Shredded increased by MXN50/mt to MXN10,950/mt delivered, while machine shop turnings fell MXN150/mt to MXN9,200/mt delivered and #1 busheling rose MXN300/mt to MXN11,500/mt delivered.