Brazil’s ferrous scrap exports rose by 15.8pc in April, from a year ago on competitive prices and lack of domestic steel and scrap demand amid COVID-19 lockdown.
Brazil exported 53,162mt of ferrous scrap in the month against 45,881mt in April 2019. Bangladesh was the top importer of ferrous scrap from Brazil and imported 24,861mt, up by 30.7pc from a year ago on competitive prices and workable freight rates for suppliers. India’s imports remained unchanged at 13,280mt. India increased bookings of ferrous scrap from Brazil in February and March, as it was priced $5-10/mt less than ferrous scrap from other popular exporting countries such as the US and UK. Pakistan imported 6,318mt of ferrous scrap in April, up by 71.5pc from a year ago for similar reasons.