INESFA: EXPORTS OF SCRAP METAL USED IN STEEL MANUFACTURING GREW 89% IN 2022

Brazilian companies in the scrap metal business, an important input for the manufacture of steel in electric steel plants, have once again increased their exports. According to Inesfa, an entity representing companies in this economic segment, the volume exported from January to April 2022 reached 192,500 tonnes, almost double (89%) the 102,000 tonnes exported a year ago. These figures were compiled by Secex, an agency of the Ministry of Economy. According to Clineu Alvarenga, president of Inesfa, the products exported are the recyclers’ surplus in domestic market sales. The official says that exports are limited to 5% of local scrap production. This is an alternative found by the sector for more than a decade to ensure the maintenance of activity in low-movement seasons. The consumption of ferrous scrap in Brazil in 2022 may exceed that of 2020, when it reached almost 8 million tonnes. Still, it may fall below the consumption estimated by Inesfa of 9 million tonnes last year.

Sources: Valor Econômico/Datamar News