Domestic ferrous scrap prices in Mexico increased for most grades in the Central and Bajío regions amid strong demand for steel and remained stable in the North.
Scrap prices in the Bajío and Central regions could continue to trend up over the next few weeks, according to a market participant from a mill in these regions, who added that prices may also increase by $30/mt across all grades in December as demand strengthens and supply of the grade remains tight.
In North Mexico, the weekly Davis Indexes for HMS 1&2 (80:20) and machine shop turnings was flat at MXN6,367/mt delivered Mexico consumer, and MXN6,100/mt delivered, respectively. The indexes for P&S 5ft rose slightly by MXN9/mt to MXN6,450/mt delivered, shredded increased by MXN33/mt to MXN7,150/mt delivered Mexico consumer, and #1 busheling climbed by MXN17/mt to MXN7,450/mt delivered on Friday.
The weekly Davis Indexes in Bajío for HMS 1&2 (80:20) rose by MXN262/mt to MXN6,800/mt delivered Mexico consumer, P&S 5ft rose by MXN578/mt to MXN7,028/mt delivered, shredded climbed by MXN737/mt to MXN7,275/mt delivered, #1 busheling rose by MXN12/mt to MXN7,075/mt delivered, and machine shop turnings fell by MXN500/mt to MXN5,350/mt delivered.
In Central Mexico, the weekly Davis Indexes for P&S 5ft, machine shop turnings, #1busheling and shredded increased by MXN150/mt to MXN6,700/mt delivered Mexico consumer, MXN5,000/mt delivered, MXN6,700/mt delivered, and MXN7,100/mt delivered, respectively. HMS 1&2 (80:20) rose by MXN200/mt to MXN6,350mt delivered to Mexico consumer.