During October, Brazil exported 34,700 mt of hot dipped galvanized products (HDG), while importing 36,200 mt of the product, becoming for the first time in recent years a net HDG importer, according to the country’s ministry of industry, foreign trade and services, MDIC.
The imports were chiefly from Asia: 20,300 mt from China at $560/mt and 14,600 mt from Japan at $488/mt, both FOB conditions.
The import from Japan was made from a distributor in the northeastern state of Piaui, which claims that it is more attractive to import steel products, from any world region, than buying from the Brazilian producers in the southeast of the country.
During October, the Brazilian exports of HDG declined from September by 32.4 percent, reflecting chiefly exports by CSN to the US reduced by 21.6 percent to 25,000 mt at $627/mt FOB, while Usiminas exported 50 percent less (5,600 mt at $751/mt FOB) and ArcelorMittal exported 51 percent less (3,800 mt at $687/mt FOB).
Destinations other than the US included Argentina (8,700 mt at $772/mt FOB) and Asia (900 mt at $626/mt FOB).
The most recent HDG export deals were closed in Brazil at $696/mt, FOB conditions, a local exporter told SteelOrbis.