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Brazil's ferrous scrap exports rise in October

National Recycling Institute (Inesfa) reports remarkable growth amidst shifting dynamics.

Brazil's ferrous scrap exports rise in October

Brazil's ferrous scrap exports reached 80,400 tons in October, a significant increase of 267.6% compared to the same month of the previous year.

Brazil's cumulative export volume in the first 10 months of the year totaled 655,200 tons of ferrous scrap, marking a significant 99.3% increase compared to the same period of the previous year, underlining the strong performance in the international market.

Analysts attribute this increase in exports to a decrease in demand from domestic steel producers. While Brazil benefited from its presence in the international market, the domestic scrap market had a challenging start to November. Market participants are struggling with low demand and stagnant prices, creating an environment of uncertainty.

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