Mexican steel scrap prices soar on renewed buying interest

Ferrous scrap prices in Mexico continued to increase in the week ended on Friday December 11 amid high demand from steel producers and a narrowing price gap between the north and central regions.

At least two major steelmakers in the region near the country's northern Monterrey city announced increases in their scrap buying prices amid high competition to secure supply.
A third steel producer in the same region was planning to raise its buying prices for this week, market participants said.

Fastmarkets assessed the steel scrap, No1 busheling, consumer buying price, delivered mill Monterrey, at 8,000 pesos ($403) per tonne on Tuesday December 15, up by 650...

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