Brazil imported 28,300 mt of Galvalume coil and similar products in May, 74 percent more than in April and the highest monthly tonnage since August 2014, according to the ministry of development, industry and foreign trade, MDIC.
All the imports came from China, at an average FOB price of $709/mt, slightly lower than the $711/mt of April.
According to one of the local producers of Galvalume, the product is sold in the domestic market at BRL2,850/mt ($914/mt), CFR, no taxes, only PIS Cofins levies included, a price recently increased in BRL terms by 12 percent from the previous quotation that dated back from December 2014.
A major distributor in the South of the country told SteelOrbis that he is selling the product locally at BRL3,200/mt ($1,027/mt), FOB, full taxes except IPI, stable in BRL terms since March.
In May, Brazil exported 5,500 mt of Galvalume to the US at $865/mt, FOB terms.
CSN and ArcelorMittal are licensed to produce Galvalume in Brazil, but the volume produced is not sufficient to meet the domestic demand, so the country is a net importer of the product with 327,000 mt in 2014, almost entirely from China.
1 US$ = BRL 3.11 (June 10)