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The high prices of metallic commodities on international markets and increasing demand are expanding the value of non-ferrous scrap materials in Brazil, business daily Valor Econômico reported.
Threats of new price increases and metals shortages are boosting the search for scrap materials by companies such as auto parts manufacturers.
For instance, the price of aluminum scrap increased more than 20% from 5.20 reais per kilo to 5.90 reais (currently US$2.80) since the end of last year, while the price on the London Metal Exchange (LME) is around US$2,400 per tonne, according to Valor.
Other non-ferrous scrap metals including zinc and copper have seen similar price hikes, the newspaper said.