Participants in the Mexican ferrous scrap market have started to see the first price cuts due to uncertainty in global scrap prices, which led some steelmakers to reverse their earlier increases in bid prices.
Some steelmakers have lowered their offers for ferrous scrap due to the global downturn, putting Mexican prices, which were previously believed to be at a peak, under pressure.The downtrend was mostly reported in the Mexican central Baj?-o region, where some scrap buyers announced they were planning a total price decrease of up to...