Prices for ferrous scrap in the Mexican markets have shown minor changes in the past week because most steelmakers have concluded their planned price cuts, which has left scrap dealers believing that the market has reached a bottom.
In the region around the northern city of Monterrey, most scrap buyers have not made changes to their prices. But one steelmaker outside Monterrey has applied a reduction of 200 pesos ($10.49) per tonne, to follow the recent changes made by other Mexican steel producers.Fastmarkets' weekly assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was 4,300 pesos ($226) per tonne on Tuesday October 29, down from 4,380 pesos per tonne a week before.The corresponding assessment for the steel scrap, No1 heavy melt, consumer buying price, delivered mill Monterrey,...