Mexican ferrous scrap prices soar at start of year

Ferrous scrap prices in Mexico rose during the first week of the year, with some of the country's major steelmakers increasing their prices to maintain raw material supply.

Several market participants indicated that steelmakers in the country's central Baj?-o region applied price increases of around 500 pesos ($26) per tonne due to low availability of material.
Some Mexican steelmakers had tried to keep prices stable in December but were forced to make adjustments suddenly due to the lack of cheap material available.

"The year started with several price increases...

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