On July 18, SteelOrbis reported ex-Brazil offers to the EU at $460-470/mt FOB for HRC commercial grade and $540-550/mt FOB for CRC commercial grade. Active trades were reported within the ranges.
According to sources close to SteelOrbis, ex-Brazil HRC has been trading recently at $500-505/mt FOB while CRC has been trading at $555-560/mt FOB. Compared to the mid-July ranges, HRC deal prices have increased $35-40/mt while CRC have increased $10-15/mt.
While Brazilian producers have attempted to increase prices with higher offers, buyers are being cautious. Offers for ex-Brazil CRC have been reported as high as $630/mt CFR EU this week. With estimates of $40-45/mt towards freight related costs, the CRC offer price is estimated at $585-590/mt FOB. A price that is being considered too high by EU importers at the moment. HRC offers are being heard as high as $535/mt FOB or $575-580/mt CFR to the EU.