Mexican government will sell metal scrap at prices outside the market

Monday, 05 December 2022 22:11:37 (GMT+3)   |   San Diego
       

The Mexican government announced minimum sales prices for metal scrap generated by scrap producers. Starting Dec. 6, the minimum price will be MXN 9,840 per metric ton, which is 6.0 percent less than the price from October 4. In dollars it is equivalent to $484/mt, a figure that represents a surcharge of 24 percent over the price of scrap imported from the United States and placed in the seaport of Veracruz.

The Ministry of Finance (SHCP) published today in the official government gazette (DOF) a list of more than 100 scrap yards, whose minimum price is used in the sale of materials to private parties through auctions or direct allocations.

SteelOrbis selected 21 products that correspond to scrap; the mentioned price is a simple average of all the products, which exceeds the price of the imported product.

Of the 21 products, the maximum value for the carbon steel tube in sections greater than 3 meters in length, with an external diameter of up to 33.40 millimeters. The minimum selling price is $1,298/mt, 233 percent more than imported scrap (CFR) to Veracruz, according to prices an importer told SteelOrbis.

The lowest price released by the SHCP is for contaminated mixed ferrous material (oil, cement, among others) at $57 per metric ton. This product is 85 percent lower than the average of between $380/mt and $400/mt of the imported material.


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