Mexican ferrous scrap prices rose by MXN318/mt on average amid strong demand for Mexican scrap from Southern USA.
Prices are expected to continue to climb for both obsolete and premium grades over the next few weeks owing to domestic demand as well as the need for scrap in the US.
The weekly Davis Index in Northern Mexico for #1HMS increased by MXN505/mt to MXN9,633/mt ($468/mt) delivered Mexico consumer on Friday, P&S 5ft rose by MXN495/mt to MXN10,833/mt delivered and shredded climbed by MXN170/mt to MXN10,783/mt. Machine shop turnings increased by MXN75/mt to MXN8,825/mt delivered and #1 busheling was up by MXN220/mt to MXN10,250/mt delivered on Friday.
In Central Mexico, the weekly Davis Index for #1HMS climbed by MXN150/mt to MXN10,750/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN550/mt to MXN11,550/mt delivered. Shredded increased by MXN400/mt to MXN11,350/mt delivered, machine shop turnings rose by MXN150/mt to MXN9,500/mt delivered, and #1 busheling went up MXN300/mt to MXN11,800/mt delivered today.
Bajio Mexico’s weekly index for #1HMS climbed by MXN217/mt to MXN9,367/mt delivered Mexico consumer on Friday, while P&S 5ft rose by MXN416/mt to MXN10,283/mt delivered. Shredded increased by MXN242/mt to MXN10,567/mt delivered, while machine shop turnings increased by MXN358/mt to MXN8,783/mt delivered and #1 busheling rose MXN383/mt to MXN11,333/mt delivered.