Brazilian steel importers face delays and risk amid port congestion

Shipping companies importing steel to Brazil are facing long lines at S??o Francisco do Sul port in the southern state of Santa Catarina due to congestion, mainly at warehouses.

Ships are being diverted from S??o Francisco do Sul port, which is the main steel importing hub in Brazil, because of unloading lines.
The main reason is the unusually high amount of steel products in storage, and a low withdrawal rate from warehouses - a sign of dwindling demand in the country.
On the other hand, the S??o Francisco port operator sees no issues with vessel queues and dispatches from terminals, a spokesperson told Fastmarkets.
"The information that [there will be] an eventual delay in dispatches from storages in S??o Francisco do Sul port is false, and there are no ship queues in the port," he said.

However, a major terminal in S??o Francisco do Sul warned customers throughout September to increase material withdrawals; otherwise there was a risk of vessels being impeded at the port. The dispatch rate was below capacity during the first half of September,...

Uranium volatility after Russia's US export restrictions

Gold stocks rebound on metal bounce and equity rise

Crypto market size continues to catch up with gold

Crypto stealing some of gold's thunder

Gold stocks drop on metal price decline