Mexican steelmakers raised their buying prices for ferrous scrap in the week to Friday November 20 on tight supply of the raw material and strong demand for steel products.
There were reports of price increases from most major scrap buyers during the week, with firm demand for all grades. Prices in the central region of Baj?-o remained higher than the average prices near the northern city of Monterrey because demand for steel products was reportedly stronger in the central region.The difference between the two regions was 300 pesos ($15) per tonne for prime scrap and as high as 550 pesos...