Brazilian ferrous scrap association Inesfa expects further decreases in export volumes from the levels seen in August, with demand rising among local steelmakers amid a heated steel market, the group's president, Clineu Alvarenga, said on Wednesday September 23.
This strengthening of domestic demand granted more pricing power to scrap suppliers, resulting in higher domestic prices, Alvarenga told Fastmarkets. But these seemed to have reached a ceiling for the moment, he added.Brazilian ferrous scrap suppliers have resorted to exports in the past two years because of falling demand from local steelmakers. In 2019, exports totaled 710,049 tonnes, almost double the 356,117 tonnes reported in the previous year, according to data from the country's...