Most domestic ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o increased week on week after reduced availability of material led some mills to accept higher offers in order to secure supply.
Low scrap availability led one mill in Mexico's Bajio manufacturing hub to announce a price increase of around 100-200 pesos last week. Other scrap buyers avoided announcing price rises, but there were reports of volumes being negotiated at higher prices.Fastmarkets' assessment of the consumer buying price for No1 heavy melt, delivered mill Bajio rose by 100 pesos to 5,300 pesos per tonne on Tuesday May 12 from 5,200 pesos per tonne the week previous, while that for No1 busheling increased by 200 pesos to 6,050 pesos per tonne from...