Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o fell week on week as widespread adjustments continued to occur amid declining global scrap prices and poor sentiment in the US domestic scrap market.
Market participants showed no optimism, indicating that prices of scrap do not seem to have hit a bottom.Fastmarkets' weekly price assessment for steel scrap No1 busheling, delivered mill Monterrey was 4,600 pesos ($236) per tonne on Tuesday October 1, compared with 5,000 pesos per tonne a week before. The steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey was assessed at 3,950 pesos ($202) per tonne on Tuesday, down from 4,150 pesos per tonne in the previous week.Also in the North, the price assessments for steel scrap cut structural/plate 3ft max, for machine shop turnings and for...