Mexico’s domestic ferrous scrap prices increased on Friday amid strong demand in the North, Bajío, and Central regions.
A continued hike in the Turkey ferrous scrap prices is expected to put pressure on the US scrap market, which will also impact the Mexican market.
Meanwhile, mills from Monterrey in North Mexico and Veracruz in Bajío have started purchasing #1 busheling from the Central area affecting prices in that region. Prices across all three regions are expected to climb next week as well.
In Central Mexico, the weekly Davis Indexes for #1 HMS, P&S 5ft, shredded, and #1 busheling rose by MXN200/mt to MXN10,000/mt delivered Mexico consumer, MXN10,450/mt delivered, MXN10,650/mt delivered, and MXN11,050/mt delivered, respectively. Machine shop turnings increased by MXN100/mt to MXN9,300/mt delivered.
The weekly Davis Indexes in Bajío for shredded and machine shop turnings climbed by MXN33/mt to MXN10,100/mt delivered, and MXN7,850/mt delivered, respectively. The index for #1 HMS climbed by MXN58/mt to MXN8,725/mt delivered Mexico consumer, P&S 5ft moved up by MXN105/mt to MXN9,688/mt delivered, and #1 busheling climbed by MXN117/mt to MXN11,150/mt delivered.
In North Mexico, the weekly Davis Index for P&S 5ft and shredded moved up by MXN17/mt to MXN10,200/mt delivered and shredded to MXN10,117/mt delivered, respectively. The index for #1 HMS and machine shop turnings remained unchanged at MXN8,900/mt delivered and MXN8,300/mt delivered, respectively, while #1 busheling fell by MXN61/mt to MXN11,067/mt delivered.