Domestic ferrous scrap prices pushed higher in Mexico on demand that has strengthened over the past one month.
Ferrous scrap prices in the three Mexican regions—North, Bajío, and Central—rose between MXN150-200/mt ($7- $9.2/mt) from last week amid improving scrap flows. The construction and automotive industries in the regions are ramping up their production volumes, adding to the demand for scrap, a market participant with operations in the North, and Bajío told Davis Index.
In Northern Mexico, the weekly Davis Index for both HMS 1&2 (80:20) and P&S 5ft increased by MXN63/mt to MXN5,363/mt and MXN5,863 delivered Mexico consumer, respectively. The index for #1 busheling also climbed by MXN63/mt to MXN6,163/mt delivered, as did machine shop turnings which moved up to MXN4,963/mt, delivered. Shredded rose by MXN150 to MXN5,950/mt delivered.
The weekly Davis Index in Bajío for HMS 1&2 (80:20) and #1 busheling increased by MXN13/mt to MXN5,863/mt delivered and MXN5,863/mt delivered, respectively, while shredded rose by MXN75/mt to MXN5,375/mt delivered. The index for P&S 5ft and machine shop turnings declined by MXN87/mt to MXN5,863 delivered and MXN4,963/mt delivered, respectively.
In Central Mexico, the Davis Index for HMS 1&2 (80:20) and machine shop turnings climbed by MXN100/mt to MXN5,275/mt delivered Mexico consumer and MXN4,775/mt delivered, respectively. P&S 5ft climbed by MXN75/mt to MXN5,475/mt delivered with #1 busheling and shredded rising by the same amount to MXN5,975mt delivered and MXN5,275/mt delivered, respectively.