The Brazilian scrap market is facing a downturn in prices this year, despite the fact that material generation is currently at a low level, sources told Fastmarkets on Thursday August 8.
Prices of ferrous scrap have fallen by around 40-45% from January to date, due to the weak performance of the long steel sector and high scrap inventories in mills, market participants said.In some mills in the southeastern Brazilian states of S??o Paulo and Minas Gerais, bundles of mixed ferrous scrap were traded at 500 Reais ($126) per tonne, consumer buying price. This was around 400 Reais lower than at the beginning of the year, according to sources.Fastmarkets does not currently...