Brazilian ferrous scrap consumption to remain stable in H2, Inesfa says

Brazilian consumption of ferrous scrap has been higher in the first half of 2021 and is expected to maintain similar levels until the end of the year, Clineu Alvarenga, president of national ferrous scrap association Inesfa, told Fastmarkets on Thursday May 13.

Long steel producers have their order books into the second half and positive prospects until December, Alvarenga said. Those steelmakers use electric-arc furnaces (EAFs) and, therefore, need more scrap for production.
Inesfa's outlook is for scrap consumption to grow in 2021 from 8 million tonnes in 2020, although no formal guidance was provided. But it is not expected to touch the record-high 11.17 million tonnes recorded in 2013.
"[Mills] are well demanded at the moment, especially amid strong numbers in the construction sector, and will need more scrap," Alvarenga said. "Despite that and rising finished steel prices, however, the mills are negotiating lower prices in their scrap procurement."

Fastmarkets...

Rising metals price volatility over past month

Gold stocks surge ahead of equities on metal price gain

Base metals outlook for 2026 opaque after decent rise last year

Gold and silver stocks far outpace the major markets

Bank of Japan boosts rates, continuing an unwinding carry trade