Mexican steel scrap prices dip, but market said near bottom

Mexican ferrous scrap prices declined again over the past week, with lower prices becoming more widespread among buyers in the country’s two main markets, sources told Fastmarkets.

But market participants believe prices are close to reaching a bottom, with some buyers having difficulty securing deals at lower prices. “We continued to see low prices, but it seems that prices are reaching a minimum level,” a market participant said. Fastmarkets’ assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey fell to 6,800 pesos ($335) per tonne on Tuesday...

Published

Felipe Peroni

October 26, 2021

21:01 GMT

São Paulo