After an 8 percent price increase announced in February was canceled in March, the price of HRC in the Brazilian domestic market remains at the same level of January, BRL 4,160/mt ($1,325/mt), ex-works full taxes except IPI, having the product of the basic commercial grades as reference.
According to the source, a medium-sized distributor in Rio de Janeiro, sales declined severely in volume when the increase was adopted, leading to an agreement with the steel producers to maintain the previous prices.
1 USD = BRL 3.14 (April 13)