Mexico domestic ferrous scrap prices increased by around MXN 200-300/mt in the north but declined in the country’s southern region. 

 

In northern Mexico, the weekly Davis Index for HMS 1&2 (80:20) rose by MXN250/mt to MXN5,700/mt ($244/mt) delivered Mexico consumer on Friday. The index for machine shop turnings increased by MXN200/mt to MXN4,600/mt delivered and rose for #1busheling by MXN250 to MXN5,700/mt delivered. The index for P&S 5ft in the north increased by MXN300/mt to MXN5,600/mt delivered Mexico consumer.

 

The Davis Index in the Bajío region increased by MXN100/mt to MXN5,450/mt delivered Mexico consumer for HMS 1&2 (80:20), while it decreased by MXN275/mt to MXN4,625/mt delivered for machine shop turnings. The index for #1busheling rose by MXN150/mt to MXN5,625/mt delivered and moved up by MXN25/mt toMXN5325/mt delivered for P&S 5ft.

 

In the central region, the index declined for all grades, dropping by MXN200/mt to MXN5,300/mt delivered Mexico consumer for HMS 1&2 (80:20) and by MXN400 to MXN4,500/mt delivered for machine shop turnings. The index for #1 busheling in Central Mexico fell by MXN200/mt to MXN5,400/mt delivered on Friday and declined by MXN250/mt to MXN5,400/mt delivered for P&S 5ft.

 

Market participants expect domestic ferrous scrap prices to rise further in North Mexico, even though the fluctuations in the currency market due to the COVID-19 pandemic is impacting their dollar value.

 

($1= MXN23.36)

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