According to SECEX, Brazil's foreign trade secretariat of the ministry of development, industry and foreign trade, Brazil exported 176,394 mt of finished carbon steel products in April, priced at $134.415 million, while it imported 218,767 mt at $161.830 million.
This compares with Brazil exports of 157,333 mt at $112.384 million and imports of 398,311 mt at $265.590 million in March.
The numbers for April indicate a commercial deficit in volume amounting to 42,372 mt, against a deficit of 240,978 mt in March.
In terms of USD value there was a deficit of $27.415 million in April, against $153.205 million in March.
The sharp reduction of the deficits, in both volume and value, reflects the effectiveness of the antidumping measures adopted on Chinese coated flat products and CRC by the Brazilian authorities in February.
Analysts expect the deficit to shrink further and possibly turn into a surplus in May, as imports from China are likely to continue falling and HRC imports may also be brought under protective measures.
Total imports from China in April were equivalent to 47 percent of the total, against 63 percent in March.
By volume, the main exported items in April coated flat products (29 percent), rebar (25 percent), HRC (19 percent), and wire rod (17 percent).
The main imported items were coated flat products (41 percent), HRC (19 percent), CRC (11 percent), rebar and steel wires (9 percent each).