Brazilian ferrous scrap exports jumped 127.7% year on year to 71,620 mt in October, Ministry of Economy data showed Tuesday.
October exports, however, were down 1% month on month. Most of the material left Brazil via the Santos port (41,121 mt), followed by the Itajai port (9,185mt), according to the ministry data.
Of the total exports, 32,099 mt went to Indonesia at an average export price of $211/mt FOB, followed by Bangladesh with 18,504 mt at an average export price of $216/mt FOB.
From January through October, Brazilian ferrous scrap exports totaled 547,486 mt compared with 299,324 mt in the same period of 2018.
Imports of ferrous scrap into Brazil in October totaled 1,268 mt, of which 671 mt were shipped from Bolivia at an average price of $286/mt FOB, ministry data showed.
Most of the raw material entered Brazil via the Corumba port, in Mato Grosso do Sul state.
