Mexican scrap buyers start series of price cuts after US settlement

Mexican steel scrap prices decreased in the week ended April 17, with some buyers applying the first round of a series of price cuts planned for the month, and a second group of buyers keeping their prices stable.

In Mexico's central Baj?-o region, steelmakers applied price cuts of 200-400 pesos ($8-17) per tonne last week, and have announced a second round of price cuts of 200 pesos per tonne to start on Wednesday April 22.
In the country's northern Monterrey region, some steelmakers applied price cuts of $25-50 per tonne in dollar-based contracts as a reaction to the April settlement in the United States.
Meanwhile, some scrap buyers kept their prices stable. This was reported to be because of high material needs and scarce supply.

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