Mexico’s scrap prices varied this week depending on region and grade with secondary grades like #1 HMS and shredded increasing in North and Bajio, respectively, while the Central Mexico market trended flat.
Supply is expected to strengthen on higher import volumes, though the arrival of these shipments did not reflect this week resulting in the price increases in two of the three regions.
The weekly Davis Index in Northern Mexico for #1HMS increased by MXN438/mt to MXN10,576/mt ($517/mt) delivered Mexico consumer on Friday and shredded climbed by MXN66/mt to MXN12,116/mt. However, P&S 5ft went down by MXN38/mt to MXN11,900/mt delivered while machine shop turnings decreased by MXN40/mt to MXN9,445/mt delivered. Prime grades continued to trend up as demand outpaced supply with #1 busheling climbing by MXN351/mt to MXN13,284/mt delivered.
In Central Mexico, the weekly Davis Index for #1HMS decreased by MXN50/mt to MXN11,450/mt delivered Mexico consumer on Friday, while shredded went up by MXN50/mt to MXN12,300/mt delivered. P&S 5ft at MXN12,650/mt, machine shop turnings at MXN10,300/mt, and #1 busheling at MXN12,950/mt delivered, remained unchanged.
Bajio Mexico’s weekly index for #1HMS climbed by MXN47/mt to MXN10,237/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN42/mt to MXN11,642/mt delivered. Shredded increased by MXN83/mt to MXN12,133/mt delivered, while machine shop turnings increased by MXN11/mt to MXN9,361/mt delivered. However, #1 busheling decreased by MXN57/mt to MXN12,586/mt delivered in this region.
($1 = MXN20.43)