Mexican ferrous scrap prices have trended lower, with more consumers applying price cuts to all grades.
In recent weeks, scrap buyers announced weekly price cuts of 200 pesos ($10) per tonne, but sellers were resisting lower prices. Last week, lower prices were found to be more widespread, especially for obsolete grades. After succeeding in reducing prices for obsolete grades, buyers have been announcing reductions in prices for No1 busheling as well.Fastmarkets' assessment of the steel scrap No1 busheling, consumer...