Exports of carbon steel scrap from Brazil fetched 59,100 mt in April, against 57,600 mt in March, according to the country’s ministry of development, industry and foreign trade, MDIC.
The average FOB export price was stable at $232/mt, on deals probably closed in February. The exports of April were almost entirely destined to Asian countries, with India as the top destination with 20,500 mt.
A major scrap processor in Sao Paulo told SteelOrbis that he is exporting the HMS-1 grade at $195/mt, stable in one month, while selling in the domestic market the same product at BRL530/mt ($177/mt), ex-works, full taxes, stable in BRL terms since early February.
The source said that it has been difficult to maintain sales in the domestic market, due to reduced demand from most industrial sectors, quoting sales reduced by 30 percent in volume so far in the year, when compared to the same period of 2014, adding that exports are currently the best alternative for the sector.
1 US$ = BRL 2.99