Mexican steel scrap market reports price cuts; negative sentiment persists

Prices for ferrous scrap in the Mexican domestic market were down in four grades and stable in five other grades in the week ended Friday February 7, with consumers attempting to reduce prices but meeting resistance from sellers.

At least two scrap consumers in the region around the city of Monterrey announced price cuts for several grades last week, in the range of 100-150 pesos ($5-8) per tonne.
Meanwhile, in the central Baj?-o region, there were reports of at least one consumer getting a price cut of 150 pesos per tonne, but this trend was not widespread among scrap buyers and sellers.

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