Brazil's evolving role in the global ferrous scrap market

Brazil's ferrous scrap exports have undergone a significant transformation, driven by a weakening domestic steel industry and increasing demand from India. Brazil exported a record 800,000 mt in 2023, following a decline in domestic scrap consumption. Looking ahead, the Brazilian recycling sector is diversifying and adapting to international standards while navigating the ongoing challenges of stagnant economic growth and global steel oversupply.

Americas senior metals pricing manager Adriana Carvalho is joined by Mayara Baggio and Camila Martinez, price reporters for Latin America metals, and Abdi Salad, price reporter for EMEA low-carbon and base metals, to discuss the evolving role of Brazil in the ferrous scrap trade. 

Links:Subscribe to Platts Connect HMS 1/2 Containerized FOB Brazil $/mt ABUPA00 Shredded Scrap Containerized FOB Brazil $/mt ABUPB00 Platts TSI Shredded Scrap CFR Nhava Sheva India $/mt AAXRQ04