Domestic ferrous prices fell for most grades in North Mexico but increased in the central area despite concerns over low supply.
In northern Mexico, the weekly Davis Index for HMS 1&2 (80:20) fell by MXN23/mt to MXN5,550/mt ($243.5/mt) delivered Mexico consumer on Friday. The index for machine shop turnings dropped by MXN47/mt to MXN4,800/mt delivered, and decreased by MXN68/mt for #1busheling to MXN5,625/mt delivered. The index for P&S 5ft in the north was down by MXN160/mt to MXN5,500/mt delivered Mexico consumer.
The weekly Davis Index in Bajío increased by MXN183/mt to MXN5,533/mt delivered Mexico consumer for HMS 1&2 (80:20) but declined by MXN33/mt to MXN4,667/mt for machine shop turnings. The index for #1busheling dropped by MXN217/mt to MXN5,667/mt delivered and rose by MXN158/mt to MXN5,433/mt delivered for P&S 5ft.
In the central region, the index rose by MXN100/mt to MXN5,325/mt delivered Mexico consumer for HMS 1&2 (80:20) and increased by MXN100/mt to MXN4,425/mt delivered for machine shop turnings. The index for #1 busheling in Central Mexico increased by MXN100/mt to MXN5,500/mt delivered on Friday and dropped by MXN100/mt to MXN5,375/mt delivered for P&S 5ft.
Market participants remained concerned over low scrap supply, which is expected to continue over the next few weeks despite the economy and manufacturing facilities looking to restart completely by June 1, after a government-imposed shutdown to contain COVID-19.