Brazilian CRC exports decline while domestic price is set to increase

Thursday, 17 December 2015 00:56:09 (GMT+3)   |   Sao Paulo
       

Brazilian exports of CRC reached 20,500 mt in November, a 31 percent decline from October, at an average FOB price reduced by 12 percent to $420/mt, according to the ministry of development, industry and foreign trade, MDIC.

The reduced volume reflects mostly exports to the US limited to 6,700 mt in November, against 27,500 mt in October, while exports to Latin American countries declined by 38 percent to 1,100 mt.

Conversely, exports to EU countries reached 12,500 mt, against no exports in October, destined to the UK (6,800 mt), Germany (4,100 mt) and Spain (1,000 mt). The main exporters were Usiminas (12,500 mt at $409/mt) and CSN (7,800 mt at $432/mt) both FOB conditions.

Meanwhile, Brazil imported in November 14,000 mt of CRC at $467/mt, FOB conditions.
A steel distributor in Rio de Janeiro told SteelOrbis that he is selling CRC of the basic commercial grades at BRL 2,700/mt ($691/mt), FOB, full taxes except IPI.

The source mentioned that such price in BRL is set for an increase of 9 percent, to be effective in January 2016. It is not clear if such price increase will depend on a higher import tax for steel products, expected to be announced by the authorities until the end of the year.

1 USD = BRL 3.88 (December 17)

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