US & Mexico Weekly Scrap Report (January 16, 2023)
January 16, 2023
UBC DISCOUNTS
Executive Summary
USA MARKET COMMENTARY
UBC DISCOUNTS widen above... cent/lb amid rallying MWTP.
UBC discounts widen as MWTP move up. Spot UBC prices rose this week to... cent/lb, compared to... cent/lb last week, following a fast increase in LME cash prices of..
MEXICAN MARKET COMMENTARY
STILL SLOW
Major Mexican scrap consumers remain out of the spot market
Activity yet to pick up. Our field intelligence indicates that most of the Mexican scrap consumers are receiving previously purchased orders but are not currently buying units for spot delivery. In fact, we can confirm that...