Brazilian ferrous scrap suppliers seek better deals as rebar price climbs

Ferrous scrap sellers in Brazil were expecting to raise their prices in new negotiations with steelmakers, with domestic consumption starting to recover and with increases seen in international prices for scrap and local prices for steel rebar, according to national ferrous scrap association Inesfa.

After a lackluster first half of the year in terms of scrap demand, which led in turn to higher exports, scrap generators were beginning to refocus on domestic supply once again, Inesfa said on Wednesday July 29. This would probably lead to an export decline starting in late July, the association added.

Brazilian ferrous scrap exports totaled 392,794 tonnes in the first half, up by 46% from 268,955 tonnes in the corresponding period of 2019. Those volumes accounted for around 15% of scrap generation in the country, a percentage that would probably fall to 10% or less in the second...

Published

Renato Rostás

August 03, 2020

18:57 GMT

São Paulo