Uruguay: heavy competition for limited scrap
In contrast to conditions reported in the previous Mirror, scrap levels seem to have declined over the last few months.
Despite increased law enforcement by Uruguay’s ministry of environment, legally-established businesses are facing heavy competition from illegal companies for the more limited amounts of scrap that are becoming available on the market. These illegal operators are smuggling scrap to Brazil - one of the world’s leading consumers.
The situation should improve as we move towards the end of the year because, historically, that is the period of peak working levels.