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.