Mexican scrap prices mostly stable while market braces for price cuts

• Wednesday, April 15, 2020
• Source:ferro-alloys.com

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[Ferro-Alloys.com] Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Bajío were mostly unchanged week on week, but market participants anticipated a series of price cuts after the United States’ monthly domestic scrap settlement for April.

 

Some steel producers in Mexico’s Bajío region announced a price cut of 200 pesos per tonne in scrap purchases for the ongoing week, after it became known that April scrap contracts in many US cities were settled with price cuts of $30 per gross ton and $50 per gross ton respectively for prime and cut grades. (Fastmarket)

 

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