Brazil imported 3,600 mt of CRC in August, 21 percent more than in July, at an average FOB price reduced by 6.4 percent to $608/mt.
Despite the increase, the volume imported in August remains far lower than the averages of 26,000 mt per month in 2015, or the 40,000 mt imported per month in 2014, reflecting chiefly the lower demand from the local automotive and domestic appliances sectors, severely hit by the poor performance of the Brazilian economy.
The main origins of the CRC’s imported in August were South Korea (1,200 mt at $679/mt), Taiwan (900 mt at $603/mt), China (800 mt at $440/mt) and the EU (500 mt at $641/mt), all FOB conditions, with price deals probably closed in June.
A source from an importer in the northeast of the country told SteelOrbis that he has recently closed a deal to import CRC at $339/mt FOB from China.
He mentioned that he remains open to opportunities to import the product at up to $500/mt, FOB conditions, a price level that he considers as competitive, when compared to the supply from Brazilian producers located in the southeast of the country.