Brazilian exports of ferrous scrap, an input used in the composition of steel, reached the figure of 30,864 tonnes in August this year, a substantial rebound from July when export levels did not top 5,614 tonnes. However, compared to August 2021, with 47,012 tonnes, foreign sales fell by 34.3%. Year-to-date exports from January to August are pretty much in line, with a total of 267,978 tonnes in 2021 and 272,789 tonnes in the first eight months of 2021, according to data released by the Ministry of Economy. According to Clineu Alvarenga, president of the National Recycling Institute (Inesfa), among other branches of the recycling economy, the market took action in August, “despite the situation abroad, the war in Ukraine, the stoppage of ports, and increases in freight.” Steel mills, he says, have been driving down prices in Brazil.
Sources: Capital do Pantanal/Datamar News