Mexico’s domestic ferrous scrap prices increased further in the North, Bajío, and Central regions amid a continuing trend of robust demand and limited supply.
Scrap prices across all grades in Mexico are expected to continue rising after the US domestic market began trading at increases of $90-100/gt this week, market participants from the three regions told Davis Index.
In North Mexico, the weekly Davis Indexes for all grades rose by MXN350/mt. The index for #1 HMS climbed to MXN7,950/mt delivered Mexico consumer, while P&S 5ft reached MXN8,400/mt delivered. The index for shredded rose to MXN8,550/mt delivered, machine shop turnings moved up to MXN7,600/mt delivered, and #1 busheling increased to MXN8,500/mt delivered.
The weekly Davis Indexes in Bajío for #1 HMS and P&S 5ft increased by MXN150/mt to MXN8,500/mt delivered Mexico consumer, and MXN8,700/mt delivered, respectively. The index for shredded rose by MXN75/mt to MXN8,475/mt delivered, while #1 busheling jumped by MXN425/mt to MXN8,475mt delivered. Machine shop turnings increased by MXN25/mt to MXN7,300/mt delivered.
In Central Mexico, the weekly Davis Indexes for all grades rose by MXN100/mt. The index #1 HMS increased to MXN8,550/mt delivered Mexico consumer, P&S 5ft climbed to MXN8,700/mt delivered, shredded settled at MXN8,500/mt delivered, machine shop turnings increased to MXN8,150/mt delivered, and #1 busheling rose to MXN8,750/mt delivered.