A source from a major scrap processor in the city of Sao Paulo told SteelOrbis that he is receiving offers to export to Asian countries the HMS I carbon steel scrap in a FOB price range of $210/mt to $215/mt.
The figures compare to a range of $225/mt to $240/mt during the first week of this month, the source said, adding that in the domestic market prices also went down, quoting a last sale ex-works conditions at BRL 530/mt ($206/mt), against BRL 580/mt, the equivalent to $215/mt, also during the first week of the month.
The source said that both export and domestic prices should move sideways over the next few months, as the domestic prices are in balance with international prices, which he believes are not expected to fall further.
According to Brazil’s ministry of development, industry and foreign trade, MDIC, in December the country’s exports of carbon steel scrap reached 79,200 mt, at an average FOB price of $271/mt, 2 percent lower than in November.