Mexican ferrous scrap prices edge up; first signs of price cuts appear

Ferrous scrap prices in Mexico have held steady or moved up marginally week on week, but market participants indicated that prices may have peaked, noting growing talk of price cuts.

Fastmarkets' price assessments edged up in the country's central Baj?-o region. Some market participants reported that consumers applied increases, which had been announced in the week to January 15, to their buying prices early this past week.
Fastmarkets assessed the steel scrap, No1 busheling, consumer buying price, delivered mill Baj?-o at 9,200 pesos ($467) per tonne on Tuesday January 26, up by 50 pesos from 9,150 pesos per tonne a week earlier.

The assessment...

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