Domestic ferrous scrap prices fell across all three regions in Mexico on Friday due to low demand.
A market participant from Bajío noted that prices will maintain their downward trend as Mexican and US mills continue to reduce their buying prices because of weak demand. Mexican steel mills have decreased their buying prices by around $200/mt over the past three weeks.
In Northern Mexico, the weekly Davis Index for HMS 1&2 (80:20) was unchanged at MXN5,300/mt ($235/mt) delivered Mexico consumer on Friday. The index for machine shop turnings, #1 busheling and shredded fell by MXN150/mt to MXN4,300/mt delivered, MXN5,800/mt delivered, and MXN5,350/mt delivered, respectively. The index for P&S 5ft saw a smaller decline, falling by MXN50/mt to MXN5,450/mt delivered.
The weekly Davis Index in Bajío fell by MXN50/mt to MXN5,300/mt delivered Mexico consumer for HMS 1&2 (80:20). The index declined by MXN25 to MXN4,475/mt for machine shop turnings but was unchanged at MXN 5,150/mt delivered for #1 busheling. The Davis Index for shredded fell by MXN100/mt to MXN5,300/mt delivered and decreased by MXN50/mt to MXN5,400/mt delivered for P&S 5ft.
In Central Mexico, the Davis Index for HMS 1&2 (80:20) fell by MXN50/mt to MXN4,600/mt delivered and was flat at MXN4,000/mt delivered for machine shop turnings. The index for #1 busheling in the region fell by MXN25/mt to MXN5,550/mt delivered on Friday. The Davis Index for P&S 5ft remained unchanged at MXN5,000/mt delivered and decreased by MXN300/mt for shredded to MXN4,900/mt delivered.