FEATURE: Brazilian prime scrap prices marching towards Real 2,000/mt

摘要

Sao Paulo—Domestic prices for ferrous scrap in Brazil continued to climb towards the Real 2,000/mt ($361/mt) mark the first week of November with steelmakers solidifying bids in an attempt to secure enough raw material for their production cycles. Prices for the most traded ferrous scrap grades kicked off the year ranging Real 625-700/mt FOT, but have escalated since June following the reactivation of mill furnaces amid stronger-than-expected steel demand.