Mexican ferrous scrap prices down on weak demand

Most steel scrap prices in Mexico fell during the week ended Friday July 10 amid slow demand, with the market affected by pessimism stemming from the monthly settlement in the United States.

At least one scrap buyer has applied price cuts totaling 500 pesos ($22) per tonne since the end of June, while others have reduced prices by 300 pesos per tonne. Of the 10 grades of ferrous scrap tracked by Fastmarkets in Mexico, seven declined and three were stable, with the price changes more widespread in Monterrey. Fastmarkets’ assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey was at 5,800 pesos per tonne on July 14, down by 150 pesos from 5,950 pesos...

Published

Felipe Peroni

July 14, 2020

21:41 GMT

São Paulo