Brazil imported 2,900 mt of CRC in July, 32 percent less than in June, at an average FOB price of $644/mt, against $337/mt in June.
The wide difference of prices reflects 2,200 mt imported from South Korea at $660/mt FOB in July versus 100 mt at $615/mt in June; while 400 mt was imported from China at $484/mt FOB in July compared to 3,400 mt at $285/mt in June.
The prices of the coils arrived in July were probably closed in May. Smaller tonnages were imported from Taiwan (200 mt) and Japan (70 mt).
A steel trader in the northeast of Brazil told SteelOrbis that he remains closing deals at $500/mt, CFR conditions, with freight prices from Asia and Eastern Europe around $50/mt.
He added that there are indications that FOB prices are showing a slight downtrend over the last week, while freight rates seem to be stable.