Mexican scrap prices continue uptrend as buyers fight for volumes

Steel scrap prices in Mexico resumed an upward trend in the week ended Friday January 1, with many consumers accepting higher prices for scrap in the final days of 2020 when struggling to secure supply.

At least two steel producers in Mexico increased their scrap purchase prices because it has been difficult to secure material, due to the strong competition.
In mid-December, tough competition between scrap consumers led to several price increases in the northern city of Monterrey, but one major steelmaker in the region stood out with higher prices, thus securing most cargoes.

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