On September 25, SteelOrbis reported scrap prices in Northern Mexico as “strong” with El Bajio prices increasing slightly on strong industrial demand while prices in Monterrey generally remained stable compared to a September 14 price report.
Today, sources close to SteelOrbis report scrap prices in the Northern Mexican region per the table below. While the Monterrey region continues trending stable in MXN terms compared to September 14 prices, the El Bajio region continues stable from the slightly higher trend reported on September 25.
In dollar terms, though, both regions have declined on currency fluctuations. The average exchange rate for September 14 and 25 was MXN 17.81 while the dollar has gained on the peso to MXN 18.74 today. In Monterrey, HMS I decreased $15/mt, P&S decreased $14-15/mt, shredded decreased $15-21/mt, and busheling scrap decreased $16/mt. In El Bajio, HMS I decreased $7-8/mt, P&S decreased $12-17/mt, shredded decreased $11-19/mt, and busheling scrap decreased $17/mt.
A source noted the possibility of a slight price erosion on domestic scrap prices in Mexico in mid to late October as a potential lagging effect due to the decline of US domestic scrap prices in the early October buy cycle.
$1= MXN 18.74, (Oct 12)
(delivered to customer) |
Monterrey MXN |
|
El Bajio MXN |
|
HMS I |
4,700-4,800/mt |
$250-256/mt |
4,800-4900/mt |
$256-261/mt |
P&S |
5,000-5,200/mt |
$267-277/mt |
5,350-5,550/mt |
$285-296/mt |
Shredded |
5,000-5,100/mt |
$267-272/mt |
5,200-5,400/mt |
$277-288/mt |
Busheling |
5,100-5,200/mt |
$272-277/mt |
5,400-5,500/mt |
$288-293/mt |