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Mexico steelmaking expansions fuel scrap demand | Argus Media

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href="/en/commodities/sulphur-and-sulphuric-acid">Sulphur and sulphuric acid</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/sustainable-and-specialty-fertilizers">Sustainable and specialty fertilizers</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Metals</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/metals">Metals overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/steel">Steel</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta 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MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/scrap">Scrap</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/pipe-and-tube">Pipe and tube</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/base-metals">Base metals</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/commodities/agriculture">Agriculture</a></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">Industries</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta 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class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/aviation">Aviation</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/petrochemicals">Petrochemicals</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/natural-gas-and-power-distribution">Natural gas and power distribution</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/power-generation">Power generation</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/mining">Mining</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/industrial-manufacturing">Industrial manufacturing</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/automotive-manufacturing">Automotive</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/agri-industry">Agri-industry</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/storage-terminals">Storage terminals</a></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">Solutions</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions">Solutions overview</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/products">Products</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Commodity prices</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/commodity-prices">Commodity prices overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/methodology/key-commodity-prices">Key price assessments</a></li><li class="MainNavigation_tertiaryItem__JMSfK 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term outlooks</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/long-term-analytics">Long term analytics</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/argus-forward-curves">Forward curves</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/data-science-and-machine-learning">Data science and machine learning</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/consulting-projects">Consulting projects</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/business-intelligence-reports">Business intelligence reports</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">How we deliver</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver">How we deliver overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/client-portal">Client portal</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/argus-data-science-studio">Argus Data Science Studio</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/argus-open-markets">Argus Open Markets</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/products/argus-spot-ticker">Argus Spot Ticker</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/channel-partners">Channel partners</a></li></ul></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">Events</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta 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Raw Materials, Scrap</li></ul></div></div></div><div class="component component-padding white"><div class="component-content"><div class="container"><div class="row"><div class="col-12 col-lg-9"><div class="qa-textpanel-description TextPanel_description__v7NGU"><p style="color: #1f1f1f; background-color: #ffffff; margin-right: 0px; margin-bottom: 21px; margin-left: 0px; padding: 0px;">Mexico continues to grow as a steelmaker and ferrous scrap consumer, establishing itself as the clear No. 2 destination for scrap exports from the neighboring US.</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">As a result of this, Argus has expanded its industry-leading ferrous scrap coverage to Mexico with the launch of delivered mill prices for Monterrey and neighboring Saltillo, Coahuila, on 3 November.</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;"><strong><span style="letter-spacing: -0.02em;">Mexico ferrous scrap specifications</span></strong></p> <table style="color: #1f1f1f; background-color: #ffffff; width: 558.75px; border: 2px solid #000000; border-spacing: 0px;"> <tbody> <tr> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>Price Assessment</span></td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>Minimum quantity</span></td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>Timing</span></td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>Current/unit</span></td> </tr> <tr> <td colspan="4" style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: center; line-height: 2.2rem;"><span>delivered Monterrey/Saltillo mill</span></td> </tr> <tr> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">#1 busheling</td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">500t</td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">prompt</td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">PS/t, $/t</td> </tr> <tr> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">Mixto (mixed HMS)</td> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>500t</span></td> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">prompt</td> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">PS/t, $/t</td> </tr> <tr> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">Pesado (HMS)</td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>500t</span></td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">prompt</td> <td style="padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">PS/t, $/t</td> </tr> <tr> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">P&amp;S, 5ft</td> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;"><span>500t</span></td> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">prompt</td> <td style="background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;">PS/t, $/t</td> </tr> </tbody> </table> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">&nbsp;</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">The price launch complements Argus&rsquo; existing comprehensive coverage of the US ferrous scrap market, providing local Mexican market participants as well as manufacturers with a new option for indexing scrap sales or purchases. Argus assesses four grades--#1 busheling, pesado (HMS), mixto (mixed HMS) and P&amp;S 5ft&mdash;in Mexican pesos/tonne and $/t, and are now available in the&nbsp;Argus Scrap Markets&nbsp;service.</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">Mexico was the world&rsquo;s 14th largest steel producer in 2022, 10th largest consumer of steel and projected to overtake Italy as the ninth largest consumer in 2023, according to World Steel. With even more production capacity set to come online in the next few years &mdash; especially in the Monterrey/Saltillo region &mdash; the addition of these Argus scrap prices gives market participants more insight into this key location.</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">Mexico is a particularly strong consumer of US scrap, especially from the southeast and Texas, and the US is the primary supplier of ferrous scrap into the country. The US exported 3mn t of scrap to Mexico in full-year 2022, according to Global Trade Tracker &ndash; second only to exports to Turkey. Mexican imports stand at 1.66mn t through August, 1.3mn t of which came from the US.</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;"><img src="https://www.argusmedia.com/-/media/Project/Common/blog/posts/uploads/2023/November/Mexico-steelmaking-expansions--fuel-scrap-demand-blog-Mexico-Steelmaking-Expansions-Chart.ashx?h=287&amp;w=540&amp;hash=FCE457BEBFCF7D6E1F81B2467A9F4136" alt="Mexico Ferrous Scrap Imports" style="height: 287px; width: 540px; margin: 30px 0px; border: none;" /></p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;"><em>Source: Global Trade Trader</em></p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">Electric arc furnace (EAF) steelmaker Ternium is set to build a new 2.6mn metric tonne/yr slab mill at its existing Pesquer&iacute;a site outside of Monterrey, along with an adjacent 2.1mn t/yr direct reduced iron (DRI) plant by 2026. Long steelmaker Deacero is also investing $1bn in the next three years to acquire more machinery and equipment at its Saltillo complex and Celaya site in the central state of Guanajuato.</p> <p style="color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;">Along with these expansions, several US companies are making moves to expand their operations in the country. Kloeckner Metals in August closed on its acquisition of steel service center National Material of Mexico. Industrial company Esmark in early October announced the creation of its Monclova, Coahuila-based Esmark Steel International, which will supply customers in the region with flat-rolled steel for automotive and electrical consumption. Recycler Dimeca, the second largest in the region, will commission a 140,000 t/yr shredder by the end of this year. US steelmaker SDI in the last three years acquired two major recyclers in the Monterrey area &ndash; Roca Acero and Zimmer &ndash; under its recycling arm, Omni.</p></div></div></div></div></div></div><div class="component ContactForm_contactForm__RusC_ navy" id="form"><div class="component-content"><img alt="Contact us" loading="lazy" width="1600" height="555" decoding="async" data-nimg="1" class="ContactForm_image__E3Vzy d-none d-lg-block" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fenglish%2Fimages%2Fpeople%2Fcontact-us-forms%2Fcontact-us-form-people-01.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D11241929fdc14a179ef99c404758bfb1%26hash%3D322CC5B9101492D34760BBF80DED1D95&amp;w=1920&amp;q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fenglish%2Fimages%2Fpeople%2Fcontact-us-forms%2Fcontact-us-form-people-01.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D11241929fdc14a179ef99c404758bfb1%26hash%3D322CC5B9101492D34760BBF80DED1D95&amp;w=3840&amp;q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fenglish%2Fimages%2Fpeople%2Fcontact-us-forms%2Fcontact-us-form-people-01.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D11241929fdc14a179ef99c404758bfb1%26hash%3D322CC5B9101492D34760BBF80DED1D95&amp;w=3840&amp;q=75"/><div class="ContactForm_content__SjXae container"><div class="row"><div class="col-12 col-lg-7 qa-form-specialist"><h2 class="h1 qa-form-header">Speak to our experts today</h2><div class="ContactForm_description__1ctco qa-form-description">Register below and we will customise a solution that meets your exact needs. 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America"}}},{"id":"f41ab85b-7889-4178-a739-0a0414241774","url":"/en/data/taxonomy/languages/english","name":"English","displayName":"English","fields":{"Title":{"value":"English"},"UniqueIdentifier":{"value":"English"}}}]},"tagLabel":{"jsonValue":{"value":"Market"}}}}}},{"uid":"f238ab0e-4ae4-4e8d-aacd-83761a82d757","componentName":"TextPanel","dataSource":"/sitecore/content/ArgusMedia/MainSite/Home/News and insights/Market opinion and analysis blog/Mexico steelmaking expansions fuel scrap demand/Data/Text Panel - Blog","params":{"Theme":"White"},"fields":{"AnchorID":{"value":""},"EnableSiteSearch":{"value":true},"Title":{"value":""},"Description":{"value":"\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin-right: 0px; margin-bottom: 21px; margin-left: 0px; padding: 0px;\"\u003eMexico continues to grow as a steelmaker and ferrous scrap consumer, establishing itself as the clear No. 2 destination for scrap exports from the neighboring US.\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003eAs a result of this, Argus has expanded its industry-leading ferrous scrap coverage to Mexico with the launch of delivered mill prices for Monterrey and neighboring Saltillo, Coahuila, on 3 November.\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003e\u003cstrong\u003e\u003cspan style=\"letter-spacing: -0.02em;\"\u003eMexico ferrous scrap specifications\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003ctable style=\"color: #1f1f1f; background-color: #ffffff; width: 558.75px; border: 2px solid #000000; border-spacing: 0px;\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003ePrice Assessment\u003c/span\u003e\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003eMinimum quantity\u003c/span\u003e\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003eTiming\u003c/span\u003e\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003eCurrent/unit\u003c/span\u003e\u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd colspan=\"4\" style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: center; line-height: 2.2rem;\"\u003e\u003cspan\u003edelivered Monterrey/Saltillo mill\u003c/span\u003e\u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e#1 busheling\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e500t\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003eprompt\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003ePS/t, $/t\u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003eMixto (mixed HMS)\u003c/td\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003e500t\u003c/span\u003e\u003c/td\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003eprompt\u003c/td\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003ePS/t, $/t\u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003ePesado (HMS)\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003e500t\u003c/span\u003e\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003eprompt\u003c/td\u003e\n \u003ctd style=\"padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003ePS/t, $/t\u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003eP\u0026amp;S, 5ft\u003c/td\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003e\u003cspan\u003e500t\u003c/span\u003e\u003c/td\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003eprompt\u003c/td\u003e\n \u003ctd style=\"background: #e8e8e8; padding: 14px 21px; border: 2px solid #000000; text-align: left; line-height: 2.2rem;\"\u003ePS/t, $/t\u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n\u003c/table\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003eThe price launch complements Argus\u0026rsquo; existing comprehensive coverage of the US ferrous scrap market, providing local Mexican market participants as well as manufacturers with a new option for indexing scrap sales or purchases. Argus assesses four grades--#1 busheling, pesado (HMS), mixto (mixed HMS) and P\u0026amp;S 5ft\u0026mdash;in Mexican pesos/tonne and $/t, and are now available in the\u0026nbsp;Argus Scrap Markets\u0026nbsp;service.\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003eMexico was the world\u0026rsquo;s 14th largest steel producer in 2022, 10th largest consumer of steel and projected to overtake Italy as the ninth largest consumer in 2023, according to World Steel. With even more production capacity set to come online in the next few years \u0026mdash; especially in the Monterrey/Saltillo region \u0026mdash; the addition of these Argus scrap prices gives market participants more insight into this key location.\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003eMexico is a particularly strong consumer of US scrap, especially from the southeast and Texas, and the US is the primary supplier of ferrous scrap into the country. The US exported 3mn t of scrap to Mexico in full-year 2022, according to Global Trade Tracker \u0026ndash; second only to exports to Turkey. Mexican imports stand at 1.66mn t through August, 1.3mn t of which came from the US.\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003e\u003cimg src=\"https://www.argusmedia.com/-/media/Project/Common/blog/posts/uploads/2023/November/Mexico-steelmaking-expansions--fuel-scrap-demand-blog-Mexico-Steelmaking-Expansions-Chart.ashx?h=287\u0026amp;w=540\u0026amp;hash=FCE457BEBFCF7D6E1F81B2467A9F4136\" alt=\"Mexico Ferrous Scrap Imports\" style=\"height: 287px; width: 540px; margin: 30px 0px; border: none;\" /\u003e\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003e\u003cem\u003eSource: Global Trade Trader\u003c/em\u003e\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003eElectric arc furnace (EAF) steelmaker Ternium is set to build a new 2.6mn metric tonne/yr slab mill at its existing Pesquer\u0026iacute;a site outside of Monterrey, along with an adjacent 2.1mn t/yr direct reduced iron (DRI) plant by 2026. Long steelmaker Deacero is also investing $1bn in the next three years to acquire more machinery and equipment at its Saltillo complex and Celaya site in the central state of Guanajuato.\u003c/p\u003e\n\u003cp style=\"color: #1f1f1f; background-color: #ffffff; margin: 0px 0px 21px; padding: 0px;\"\u003eAlong with these expansions, several US companies are making moves to expand their operations in the country. Kloeckner Metals in August closed on its acquisition of steel service center National Material of Mexico. Industrial company Esmark in early October announced the creation of its Monclova, Coahuila-based Esmark Steel International, which will supply customers in the region with flat-rolled steel for automotive and electrical consumption. Recycler Dimeca, the second largest in the region, will commission a 140,000 t/yr shredder by the end of this year. US steelmaker SDI in the last three years acquired two major recyclers in the Monterrey area \u0026ndash; Roca Acero and Zimmer \u0026ndash; under its recycling arm, Omni.\u003c/p\u003e"}}},{"uid":"8ea9a4f0-3023-49b5-a9eb-b83c767153e5","componentName":"ContactForm","dataSource":"{44347C6E-A16B-47F6-B06F-24D3854B9976}","params":{"CacheClearingBehavior":"Clear on publish"},"fields":{"Disclaimer":{"value":"\u003csmall\u003eYou can unsubscribe from these updates at any time. 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