Currency moves, low supply spark divide in Mexican ferrous scrap prices

Mexican ferrous scrap prices were on opposite paths in the week ended Friday May 22, with prices rising in some deals due to a scarcity of material while others fell due to currency moves.

Prices for three grades of scrap increased in Monterrey, with at least one client heard quietly purchasing small volumes of specific grades at higher prices.
A second client was also considering future price increases due to the tight availability of material.
One grade in Bajio also posted a week-on-week gain.

Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 6,100 pesos per tonne on Tuesday, up by 100 pesos from 6,000 pesos per tonne on May 19. The consumer...

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