The Brazilian exports of carbon steel scrap fetched 39,500 mt in November, 41 percent less than in October and the lowest monthly volume since February 2015, according to the ministry of development, industry and foreign trade, MDIC.
The average FOB price declined by 6.9 percent to $153/mt, pointing to the HMS-1 grade exported at $127/mt, a 16.7 percent reduction from the $152/mt of October.
The shipments were almost entirely destined to Asian countries: 15,400mt to Bangladesh at $149/mt, 15,000 mt to India at $136/mt, 4,760 mt to Pakistan at $165/mt and 2,700 mt to Indonesia at $173/mt, all FOB conditions, with price deals probably closed in September 2015.
A major scrap processor in Sao Paulo told SteelOrbis that he is still exporting scrap of the HMS-1 grade to Bangladesh at $185/mt, CFR conditions, a price translating today to $111/mt FOB conditions, considering BRL 280/mt ($72/mt) as logistics costs.
1 USD = BRL 3.90 (December 16)