Brazilian domestic ferrous scrap prices remained stable in late July, but talks about an increase of up to 10% for August negotiations have started to pop up in the market, dealers said Monday.
The S&P Global Platts weekly assessment of clean steel scrap was stable at Real 450/mt ($141/mt), based on a range of Real 440-460/mt for bids, offers and deals.
The weekly heavy melting scrap I & II assessment was also stable at Real 440/mt, based on a Real 430-450/mt range.
The turnings assessment is being priced at Real 335/mt, based on a range of Real 320-350/mt. All prices are on a delivered-to-mill basis.
"The commentary about a price increase is true," a dealer said. "It can reach 10%."
A second source also confirmed the coming price adjustment, and added that market activity should get stronger in August with the end of vacations period. "Maybe this week we already see things getting better," he said, adding that a return of activities in the industrial sector in general is expected.
