Brazil exported 2,300 metric tons (mt) of hot-rolled coil (HRC) in September and imported 58,800 mt, compared with 26,400 mt and 57,600 mt, respectively, in August.
The sharp drop, which brought exports to their lowest monthly volume in recent years, reflects the absence of shipments to the US following the imposition of higher Section 232 steel import tariffs by local authorities in August, when tariffs rose an additional 25 percent to a total tariff of 50 percent, up from 25 percent one year before.
In August, Brazil shipped 16,200 mt of HRC to the US, to have customs clearing before the imposition of the higher tariff. Between January and August, Brazil shipped a total 81,000 mt of HRC to the US.
All September exports went to South America, shipped by ArcelorMittal (1,600 mt at $684/mt), Usiminas (500 mt at $906/mt) and Gerdau (200 mt at $1,136/mt), on an FOB basis.
Imports came from Asia (39,000 mt at $569/mt, including 23,100 mt from South Korea at $554/mt) and Egypt (19,800 mt at $647/mt), also on an FOB basis.
