Brazil's iron and steel scrap exports declined sharply by 11% month-on-month during April this year to 325,000 tons, as per the Ministry of Development, Industry and Foreign Trade (MDIC).
Brazil's iron and steel scrap exports revenue also dropped by 4% month-on-month to $14.5 million during April this year.
According to National Institute of Iron and Steel Scrap Companies, it is the second consecutive month of decline in scrap exports. One of the main reasons is the steel oversupply of in the global market, with consequent reduction in demand by mills.
However, the trend is resuming export growth through the first half of the year.
Published by HENAN JIUHUA IRON AND STEEL SALES CO.,LTD