Mexican scrap prices continue to fall due to previously announced adjustments

摘要

Prices for most ferrous scrap grades in Mexico’s steelmaking regions of Monterrey and Bajío fell week on week as widespread adjustments continued to occur amid declining global scrap prices and poor sentiment in the US domestic scrap market. Market participants showed no optimism, indicating that prices of scrap do not seem to have hit a bottom. Fastmarkets’ weekly price assessment for steel scrap No1 busheling, delivered mill Monterrey was 4,600 pesos ($236) per tonne on Tuesday October 1, compared with 5,000 pesos per tonne a week before. The steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey was assessed at 3,950 pesos ($202) per tonne on Tuesday, down from 4,150 pesos per tonne in the previous week.