Domestic ferrous prices increased for most grades in North Mexico and Bajío but decreased in the central area amid concerns over low supply.
In northern Mexico, the weekly Davis Index for HMS 1&2 (80:20) rose by MXN435/mt to MXN5,985/mt ($268.4/mt) delivered Mexico consumer on Friday. The index for machine shop turnings was up by MXN250/mt to MXN5,050/mt delivered, and increased by MXN545/mt for #1busheling to MXN6,170/mt delivered. The index for P&S 5ft in the north rose by MXN520/mt to MXN6,020/mt delivered Mexico consumer.
The weekly Davis Index in Bajío increased by MXN367/mt to MXN5,900/mt delivered Mexico consumer for HMS 1&2 (80:20), but declined by MXN67/mt to MXN4,600/mt for machine shop turnings. The index for #1busheling ticked up by MXN433/mt to MXN6,100/mt delivered and rose by MXN317/mt to MXN5,750/mt delivered for P&S 5ft.
In Central Mexico, the index declined across all grades as steelmakers in the region reduced their scrap collection because of shortage of the material.
The Davis Index for HMS 1&2 (80:20) and machine shop turnings fell by MXN287/mt and by MXN305/mt to MXN5,038/mt delivered and MXN4,120/mt delivered, respectively in Central Mexico. The index for #1 busheling in the region decreased by MXN25/mt to MXN5,525/mt delivered on Friday and declined by MXN50/mt to MXN5,325/mt delivered for P&S 5ft.
Scrap shortage continues throughout Mexico but market the country’s scrap industry anticipates an improvement in supply by mid-June, with price stability returning by the end of next month.