Brazil exported 62,800 mt of hot dipped galvanized products (HDG) in August, against 6,400 mt in July, at an average FOB price reduced by 6 percent to $840/mt, said the local ministry of industry, foreign trade and services, MDIC.
According to a local exporter, part of the increase in export tonnage reflects the postponement of shipments originally scheduled for July to August, while increased fresh sales have also played a role.
CSN was the top exporter with 55,100 mt at $829/mt, while Usiminas exported 7,200 mt at $906/mt and ArcelorMittal exported 400 mt at $872/mt, all FOB conditions, with price deals probably closed in June.
The main destinations were the US (47,700 mt at $823/mt) and Latin America (15,000 mt at $887/mt, of which 13,000 mt to Argentina at $900/mt), all FOB conditions.
Meanwhile, current reference prices for the export of HDG from Brazil range from $790/mt to $810/mt, FOB conditions.
In the domestic market, distributors are offering HDG at BRL 4,400/mt ($1,402/mt), ex-works, full taxes except IPI, with the Z100 grade as reference. According to sources, high domestic prices continue to push demand for imports, which reached 16,000 mt in August, of which 12,200 mt from China at $656/mt and 2,200 mt from the EU at $910/mt, both FOB conditions.
USD = BRL 3.14 (September 14)