Brazil's ferrous scrap exports rose month-on-month and year-on-year in March, Kallanish notes. Imports also grew.

According to the Brazilian Ministry of Development, Industry and Foreign Trade (Mdic), scrap exports totalled 61,500 tonnes in March, an increase of 3,700t compared with February and 68.1% higher y-o-y.

The fob value of March shipments amounted to $19.7 million, up 6.5% from the previous month and 34.8% greater y-o-y. The monthly average scrap export price was $320/t, equal on-month and 19.9% lower on-year.

Exports in the first three months of the year were down 5.1% y-o-y at 178,583t. The fob value of these shipments fell 15.5% versus January-March 2024 to $58.9m. India was the main destination for Brazilian scrap deliveries during the period, taking 62% of shipments. Bangladesh had a share of 15%, whilst Bolivia absorbed 4.8% of Brazil’s material.

During March, the country imported 1,004t of ferrous scrap compared with just 216t in February and 2,160t in the year-earlier period. Cumulative entries amounted to 2,606t, down 40.4% on-year.

Germany and Spain were the main material suppliers to Brazil in January-March, with a 36% and 20% share, respectively. Netherlands and Paraguay were the next-largest providers, having 11% and 7.6% participation. Cumulative scrap import fob value was $2.58m, up 13.7% y-o-y, Mdic data shows.