Brazil's ferrous scrap exports rise in October

Brazil's ferrous scrap exports reached 80,400 tons in October, a significant increase of 267.6% compared to the same month of the previous year.

Brazil's cumulative export volume in the first 10 months of the year totaled 655,200 tons of ferrous scrap, marking a significant 99.3% increase compared to the same period of the previous year, underlining the strong performance in the international market.

Analysts attribute this increase in exports to a decrease in demand from domestic steel producers. While Brazil benefited from its presence in the international market, the domestic scrap market had a challenging start to November. Market participants are struggling with low demand and stagnant prices, creating an environment of uncertainty.