Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Mexico’s domestic ferrous scrap prices fell in the Central and Bajío region but rose in the North on demand strength on Friday.

 

Overall, prices in Mexico may fall between MXN800-1,000/mt ($39-$48.8/mt) in February, mirroring the anticipated fall in the US domestic ferrous scrap market of $40-50/mt, according to market participants, who added that scrap prices began climbing down after prices to Turkey fell by almost $70/mt. The Daily Davis Index for HMS 1&2 (80:20) stood at $415.89/mt cfr Turkey on Friday, down from $481.25/mt cfr at the beginning of January.

 

In Central Mexico, the weekly Davis Indexes for all grades fell by MXN300/mt with #1 HMS settling at MXN8,400/mt delivered Mexico consumer, P&S 5ft at MXN8,550/mt delivered, shredded at MXN8,350/mt delivered, machine shop turnings declining to MXN8,000/mt delivered, and #1 busheling settling down at MXN8,600/mt delivered.

 

In Bajío, the weekly Davis Indexes for all grades fell by MXN200/mt with #1 HMS settling at MXN8,550/mt delivered Mexico consumer, P&S 5ft reaching MXN8,850/mt delivered, shredded at MXN9,300/mt delivered, machine shop turnings down to MXN7,900/mt delivered, and #1 busheling at MXN8,950/mt delivered.

 

In North Mexico, the weekly Davis Indexes for #1 HMS rose by MXN135/mt to MXN8,535/mt delivered Mexico consumer, P&S 5ft climbed by MXN45/mt to MXN9,245/mt delivered, shredded increased by MXN105/mt to MXN9,280/mt delivered, machine shop turnings rose by MXN155/mt to MXN8,580/mt delivered, and #1 busheling increased by MXN65/mt to MXN9,415/mt delivered.

 

($1=MXN20.46)

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