A source from a major scrap processor in Sao Paulo told SteelOrbis that he is selling the HMS-1 grade product to a client in Bangladesh at $220/mt, CFR conditions, which translates into a FOB price of $151/mt, considering the logistics costs to send the product to the Asian country at BRL250/mt ($69/mt).
This price compares to $240/mt, on early July, and to $280/mt by mid-May, both CFR conditions.
The source mentioned that in the domestic market the price also went down, from a range of BRL550/mt to BRL600/mt on early July to BRL500/mt ($139/mt) today, with an average reduction in BRL of 13 percent and 31 percent in $ terms, due to the variation of the $/BRL rate.
In July, Brazil exported 39,200 mt of carbon steel scrap at $233/mt, FOB conditions, almost entirely to Asian countries.
1 US$ = BRL 3.60 (August 26)