Mexican ferrous scrap prices stable; market muted by virus concerns, currency moves

Ferrous scrap prices in the Mexican domestic market were unchanged in the week ended Friday March 13 amid growing uncertainty in raw material markets due to the novel coronavirus (2019-nCoV) outbreak and a massive devaluation of Mexico's currency.

Prices were reported at stable levels last week, with market participants trying to anticipate the direction prices will take in the coming days.
"We will re-evaluate our scrap prices this week," a buying-side source said.

Fastmarkets' weekly assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey held at 5,050 pesos...

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