Brazil’s ferrous scrap prices static, but stocks overflow

摘要

Sao Paulo—Pricing for Brazilian ferrous scrap was unchanged for the second consecutive week on thin trading and high inventories, sources said.Since the last price cut on July 15, exports remained the only escape for the poor domestic market and as the only way to reduce the huge inventories at dealers’ yards, according to several market sources. “Prices are stable, but the current situation is of reduced sales volume ... because steelmakers have been reducing steel production,” one dealer said.