By Carolina Curiel (ScrapMonster Author)
February 15, 2016 02:42:29 AM
SAO PAULO (Scrap Monster): The latest statistics released by the Brazilian Ministry of Development and Foreign Trade suggests significant drop in the country’s ferrous scrap exports during the month of January this year.
According to data, Brazil’s ferrous scrap exports totaled 43,083 mt during Jan ’15, significantly down by 29.2% when matched with the exports during the same month a year before. The country had exported 60,901 mt of ferrous scrap during January 2015. The ferrous scrap exports during Jan ’15 were down by nearly 12% when matched with the previous month. The trade data for the month of December last year suggests ferrous scrap imports of 48,820 mt during the month.
The key destination of Brazil’s ferrous scrap exports in Jan ’15 was Asian region. The country’s ferrous scrap export to the Asian countries totaled 41,767 mt, accounting for almost 97% of the total exports by the country. However, average export prices dropped sharply by more than 40% over the previous year from $267 per mt FOB in Jan ’15 to $158 per mt FOB in January this year. The average export prices have recovered marginally by 3% when compared with Dec ’15. The Dec ’15 ferrous scrap export prices had averaged at $153 per mt FOB.