Ferrous scrap exports from Brazil fell by 18pc in October to 63,305mt compared with 77,193mt shipped in October 2019.
Volumes also declined by 34.9pc compared with 97,311mt in September, according to figures from Brazil’s ferrous scrap association (Inesfa), local media reported. The main Brazilian states that exported more ferrous scrap in October were Rio Grande do Sul at 24,550mt, São Paulo at 17,353mt and Santa Catarina at 12,896mt.
In the domestic market, demand for scrap is currently higher than expected, due to higher demand from the construction industry, Inefsa’s president, Clineu Alvarenga, said without disclosing further details. Inefsa also noted that Brazilian ferrous scrap consumption is expected to reach 8mn mt in 2020, similar to the levels from 2019. The agency noted that scrap consumption was at its highest level in 2013, reaching 11.1mn mt during the year.
Brazilian crude steel production rose by 7.5pc to 2.6mn mt in September on an annual basis.