Brazil's ferrous scrap exports surged 49% in October

SAO PAULO (Scrap Monster): The latest statistics released by the Customs shows that ferrous scrap exports by Brazil have jumped higher considerably during the month of October this year. According to data, the scrap exports by Brazil totaled 76,036 mt during the tenth month of the year.

Meantime, exports during October declined by 13% when compared with those during the prior month. The ferrous scrap exports by the country had totaled 87,410 mt in September this year.

The ferrous scrap exports by the country have gone higher by 49% over the year in October. The country had exported only 50,888 mt of ferrous scrap during October 2013.

Brazil’s largest export destination for ferrous scrap was Asian countries. The exports to Asia totaled 73,908 mt, constituting more than 95% of the total exports by the country. The export prices averaged at $317/mt FOB, which is higher by 23% when compared with $256/mt FOB in October 2013. However, the export prices during October declined by 7% when compared with the prices of $341 per mt during September this year.

The government data also indicated that 55,410 mt of ferrous scrap exports from the country were shipped from the Santos port in Sao Paulo state.