After a series of increases reaching a combined 35 percent so far this year, the domestic price of HRC in Brazil has increased again, according to a medium-sized distributor in Rio de Janeiro.
The company is selling HRC of the basic commercial grades at BRL 3,600/mt ($1,148/mt) FOB conditions, full taxes except IPI, roughly equivalent to $861/mt, FOB no taxes included.
The figure compares with BRL 3,400/mt FOB conditions, full taxes except IPI, one month ago, then equivalent to $776/mt, FOB no taxes included.
The source mentioned that the increase reflects compensations for exchange rate variations, as claimed by the steel producer who supplies flats products to the distributor.
1 USD = BRL 3.14 (August 11)