Mexican scrap prices continue to fall on high supply

Ferrous scrap prices in Mexico fell this week amid a weak steel market performance and increasing inventories, sources told Fastmarkets.

Low steel production in the country sent scrap stocks higher during the week.
Efforts to reduce prices in the country became more widespread last week, with more steelmakers cutting buying prices and additional sellers affected by previously announced increases.

Fastmarkets' assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey was at 5,700 pesos ($253) per tonne on Tuesday July...

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