A source at a major global steelmaker said Brazilian mills are currently offering HRC in the export market at FOB $320/mt.
“The offers depend much on the type as well as on the quality of the steel, but prices seem to be reaching lower levels,” a source said, adding it felt that there is a common understanding that prices could decline a little bit. “I think Brazilian HRC offers are now reaching more competitive levels,” the mill source said.
Sources said Brazilian mills are looking to the European market in order to export HRC, as a result of the ongoing investigations in the US over alleged subsidies for exports of the product.