Prices for steel scrap in the Mexican steelmaking regions of Bajio and Monterrey were stable or down in the week ended Friday July 30, with few consumers feeling confident enough to try to apply price cuts for some grades of obsolete material.
Price cuts of 100-200 pesos ($5-10) per tonne were heard from at least one scrap buyer in Mexico, but the reduction was not widespread among the market. Market participants also saw more resistance toward reducing prices for prime scrap. The...