A major steel distributor in Brazil’s southern region told SteelOrbis that he is selling HRC in the domestic market at BRL2,110/mt ($781/mt), FOB full taxes except IPI, 4 percent less in one month, adding that he sees a reduced demand associated to an year-end seasonal pattern.
Meanwhile, the country’s ministry of development, industry and foreign trade, MDIC, informs that Brazil exported in November 189,400 mt of HRC, 7 percent more than in October, at an average FOB price 5 percent lower, $552/mt, with exports by ArcelorMittal Tubarao at $538/mt, by CSN at $549/mt and by Usiminas Cosipa at $597/mt.
The main destinations were Europe (87,800 mt), the US (49,700 mt), Latin America (27,500 mt) and Asia (24,400 mt).
The wide difference between domestic and international prices maintains an import market of HRC by Brazilian traders, which has reached 5,400 mt in November, up 18 percent from October, at an average FOB price 5 percent lower, $659/mt, having Asia as main origin with 5,100 mt.
$1 = BRL 2.70