Domestic ferrous scrap prices in Mexico increased for most grades in the North, Bajío, and Central areas as demand from the automotive, construction, and manufacturing industries continued to grow.
In North Mexico, the weekly Davis Indexes for HMS 1&2 (80:20) rose by MXN380/mt to MXN6,180/mt delivered Mexico consumer, #1 busheling increased by MXN254/mt to MXN6,904/mt, P&S 5ft climbed by MXN330/mt to MXN6,230/mt delivered, machine shop turnings moved up by MXN154/mt at MXN6,004/mt delivered, and shredded rose by MXN230/mt to MXN7,230/mt delivered on Friday.
Scrap prices in North Mexico increased by $8-14 /mt for HMS 1&2 (80:20), P&S 5ft and shredded, this week and by $5/mt for #1 busheling and machine shop turnings due to a supply tightness for the materials a market participant with operations in the region told Davis Index.
In fact, the low supply had some market participants turning to imports of the material with some inquiries from these sources heard on the Houston docks in the US last week.
The weekly Davis Indexes in Bajío for HMS 1&2 (80:20) rose by MXN107/mt to MXN6,158/mt delivered Mexico consumer, #1 busheling increased by MXN100/mt to MXN6,692/mt, P&S 5ft moved up by MXN84/mt to MXN6,142/mt delivered, and machine shop turnings climbed by MXN117/mt to MXN5,475/mt delivered. However, the index for shredded decreased by MXN74/mt to MXN6,225/mt delivered.
Scrap prices in Bajío and Central areas increased this week by MXN150/mt ($7.1/mt) across all grades amid upward pressure due to high demand in the market, according to market participants from these regions.
In Central Mexico, the weekly Davis Index for HMS 1&2 (80:20) rose by MXN162/mt to MXN5,700/mt delivered Mexico consumer, P&S 5ft moved up by MXN237/mt to MXN6,225/mt, machine shop turnings increased by MXN87/mt to MXN4,375/mt delivered, shredded rose by MXN141/mt to MXN6,275/mt and #1busheling increased by MXN100/mt to MXN6,225/mt.