Ferrous scrap prices in Mexico started to decline from all-time highs in the week ended on Friday January 29, with several mills reducing their buying price for the steelmaking raw material and announcing further price cuts.
In both Baj?-o and Monterrey, price cuts of 100-300 pesos ($5-15) were reported last week. The movement is expected to be followed by weekly price reductions, which could total 800 pesos, sources said.Fastmarkets assessed the steel scrap, No1 busheling, consumer buying price, delivered mill Baj?-o at 9,000 pesos per tonne on Tuesday February 2. That's down by 200 pesos from 9,200 pesos per tonne...