Sources close to SteelOrbis have confirmed that Brazilian steelmakers are trading ex-Brazilian HRC of the basic commercial grades at $420/mt, FOB conditions. The current price point reflects a $10/mt CFR decline from last week, when export offer prices were heard $430/mt.
Export offer prices have been declining since mid-May, when prices for Brazilian HRC were heard at $500/mt. Current declines in ex-Brazilian HRC, along with other flats products and slabs, are linked to declining steel prices in China.
In May, ArcelorMittal Tubarao exported HRC at $286/mt, CSN at $453/mt, Usiminas at $667/mt and Gerdau Acominas at $293/mt, all FOB conditions. It’s believed that these cargoes were booked during the month of March.