The Brazilian exports of CRC reached 8,300 mt in May, 52 percent less than in April, according to the ministry of development, industry and foreign trade, MDIC.
The average FOB export price went up by 2.1 percent to $664/mt, with 4,500 mt exported by Usiminas at $686/mt and 3,210 mt exported by CSN at $637/mt, while 500 mt were exported by ArcelorMittal at $610/mt, all FOB conditions.
The destinations include 5,200 mt to Latin American countries at $676/mt FOB and 3,000 mt to the US at $643/mt FOB.
During May, Brazil imported 22,900 mt of CRC, 6.1 percent more than in April at $583/mt in average, of which 14,900 mt from China at $551/mt, 4,900 mt from Ukraine at $517/mt and 2,300 mt from South Korea at $755/mt, all FOB conditions.
Brazil remains as a net importer of CRC despite the wide idle capacity of the local rolling plants, as the high domestic prices do not encourage the local producers in the dispute for international markets.
According to a major exporter, CRC are currently negotiated for export in Brazil at $560/mt, FOB conditions for the basic commercial grades, a price stable over two months, but only a few deals are actually being closed.
A major distributor in the South of the country told SteelOrbis that he remains selling CRC of the basic commercial grades in the domestic market at BRL2,550 ($824/mt), FOB, full taxes except IPI, stable in BRL since a five percent increase in January.
1 US$ = BRL 3.10 (June 9)