According to sources close to SteelOrbis, flat steel export deals from Brazilian producers have been recently heard in markets abroad at $460-470/mt FOB for HRC commercial grade and $540-550/mt FOB for CRC commercial grade. The offer prices are reportedly now ranging from $475-490/mt FOB for HRC and $555-570/mt FOB for CRC. A source noted offers for both grades are up $5-10/mt compared to those in late June/early July.
Compared to late May, when SteelOrbis reported offers for HRC at $490-500/mt FOB and CRC at $555-570/mt FOB, offer prices on HRC have declined $15/mt from the bottom of the previous range and $10/mt from the top of the same range. CRC, on the other hand, is stable with late May offers.
A concern for Brazilian producers is the EU’s ongoing AD investigation on HRC from four countries (Russia, Ukraine, Iran and Brazil) which is expected to result in antidumping duties of 5-33 percent. Announcements of the investigation are expected by October 6, 2017.