SÃO PAULO Brazilian ferrous scrap exports have stabilized in April compared with the same month last year following 12 consecutive monthly rises amid an improvement in the domestic long steel product market.
Exports totaled 39,421 tonnes last month, down slightly from the 39,668 tonnes in April 2012, according to figures from Brazilian foreign trade ministry MDIC.
Deliveries abroad rose 69 percent in the first quarter this year after gaining 71.7 percent in all of 2012.
Higher purchases of scrap by Brazilian long steel producers since the beginning of 2013 are the main reason behind the sudden push back, local sources told AMM sister publication Steel First.
"The priority of local scrap processors has always been the local steelmakers," one trading source said. "Exports are only the surplus ... whenever the domestic market improves, exports tend to fall."
India took 11,063 tonnes of the monthly export total, down from 19,667 tonnes in April 2012; Indonesia took 9,220 tonnes, up from 958 tonnes; and China bought 5,441 tonnes, up from 4,230 tonnes. Vietnam, Taiwan and the British Virgin Islands in the Caribbean took 2,590 tonnes, 2,464 tonnes and 2,324 tonnes, respectively, according to MDICs data.
A version of this article was first published by AMM sister publication Steel First.