Platts to launch new Brazil ferrous scrap export assessments

Platts, part of S&P Global Commodity Insights, will begin publishing new daily Heavy Melting Scrap (HMS) 1/2 and Shredded Scrap FOB Brazil price assessments, effective Sept. 16, 2024.

The assessments will complement Platts established suite of domestic ferrous scrap benchmarks and build on existing comprehensive Platts scrap benchmarks globally.

Brazil saw record-high ferrous scrap export volumes in 2023, with about 800,000 mt of material flowing abroad, more than double the 369,305 mt exported in 2022, according to customs data.

The increase in exports has persisted so far in 2024, during a challenging time for the Brazilian steel recycling sector. It has historically focused on the domestic market but has viewed exports as a relief valve in recent years amid reduced local steel consumption and production.

The new assessments will have the following specifications:

The assessments will be found under the following symbol codes:

Platts initially proposed the launch for Sept. 2, 2024, in a subscriber note published July 16 available here.

All market information reported to Platts may be considered for publication, including firm bids, offers, transactions, indications of value, as well as any other data deemed relevant to the assessment process.

Platts may normalize information heard in the market with differing specification, in order to meet the assessment specifications. Normalization brings market information in line with the Platts assessed specifications.

The assessments, which will follow Platts Brazil publishing schedule, will be published on a daily basis and reflect a Sao Paulo time market close (4:30 pm).

The daily assessments and associated monthly averages will be published in Steel Markets Daily and World Steel Review and in the Platts price point database.

Please send all comments, feedback and questions LatAmMetalsteam@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.