On February 22, SteelOrbis reported domestic scrap prices in the northern Mexican region, which includes Monterrey, as trending strong on domestic demand and support from global scrap prices. Prices were reported at approximately MXN 6,150-6,300/mt ($330-338/mt) for busheling scrap, MXN 6,150-6,400/mt ($330-343/mt) for shredded scrap, MXN 6,050-6,300/mt ($325-338/mt) for P&S, and MXN 5,750-5,900/mt ($308-317/mt) for HMS I, all prices on a delivered to customer basis.
Sources inform SteelOrbis that the trend continued with an “upshift several weeks ago and stable level since then.” Prices are now reportedly at MXN 6,250-6,500/mt ($337-351/mt) for busheling scrap, MXN 6,200-6,450/mt ($335-348/mt) for shredded scrap, MXN 6,150-6,400/mt ($332-345/mt) for P&S, and MXN 5,850-6,050/mt ($316-326/mt) for HMS I, all prices on a delivered to customer basis.
Over the past month, busheling scrap increased $7/mt from the bottom of the previous range and $13/mt from the top of the same range. In the same period, shredded scrap increased $5/mt, P&S scrap increased $7/mt, and HMS I scrap increased $8-9/mt.
USD = MXN 18.64 (Feb 22)
USD = MXN 18.53 (Mar 22)