The price of HRC in the Brazilian domestic market increased by 6.7 percent in the last month, a major distributor in southern Brazil told SteelOrbis.
With the increase, the FOB price, full taxes except IPI, has reached BRL 2,251/mt ($862/mt), for the product of the basic commercial grades.
The increase reflects both the domestic inflation and the devaluation of the BRL vis-à-vis the $, the source said, adding that the previous price was stable for three months.
In December, the Brazilian producers of HR coils exported 180,000 mt of the product, of which 58,600 mt at $474/mt FOB by ArcelorMittal Tubarao, 54,700 mt at $642/mt FOB by Usiminas Cosipa and 66,800 mt by CSN at $535/mt FOB.
$1 = BRL 2.60