Mexican ferrous scrap prices were largely stable in the week ended Friday May 7, with some sellers heard applying price increases due to strong demand and limited availability of certain grades.
Shredded scrap in both Monterrey and Bajio and plate and structural scrap in Bajio were the only prices to increase in Fastmarkets' weekly assessment. While there were reports of price increases in transactions in both regions, the gains were not widespread in the market.Market participants were expecting the upward trend to continue due to strong demand and finished steel prices.Fastmarkets assessed the steel scrap...