In a pattern similar to other flat steel products, prices of HRC in the Brazilian domestic market are moving downwards, with steel producers negotiating the prices for new sales on a client-by-client basis, a major importer and distributor told SteelOrbis.
It is estimated that discounts of 3 percent are offered to consumers, an indication that new deals are now closed at BRL1,649/mt ($662/mt), FOB at the producer’s plant, ex-taxes but including PIS-Cofins levy.
According to Brazil’s ministry of development, industry and foreign trade, MDIC, the country’s imports of HRC in September went down from August by 52 percent to 17,600 mt at an FOB price 3.7 percent higher, $595/mt, all for material of 3mm or less in thickness.
A wide difference of prices was seen in September, with 14,900 mt imported from Russia at $549/mt, while 2,600 mt were imported from Asia, mostly from South Korea, at $713/mt.