Ferrous scrap prices in Mexico have dropped for almost all grades and in almost all regions this week, with some of the country's main steelmakers applying price cuts.
Last week, a large Mexican mill confirmed a price reduction of 400 pesos ($20.57) per tonne for all scrap grades, adding to previously announced price cuts of 200 pesos per week in September by two other large scrap consumers.But some scrap buyers were keeping their prices stable and keeping purchases to a minimum, to see when the market will reach a bottom."Companies which cut prices are struggling to secure volumes,"...