CRC imports in Brazil are negotiated at an average $715/metric ton (mt), CFR conditions, stable for the past four weeks, market insiders told SteelOrbis.
The volume of CRC imports from China rose by 205 percent between January and February. Insiders told SteelOrbis the increase is attributable to importers expediting customs clearance procedures to circumvent the antidumping duties imposed by Brazilian customs authorities on CRC and other steel products originating from China. Imports were from South Korea (15,300 mt at $534/mt) and China (9,700 mt at $552/mt).
In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by producers at Brazilian Reals (BRL) 6,100/mt ($1,173/mt), also stable in BRL from four weeks earlier, ex-works, full taxes except the Brazilian tax on industrial products - IPI.
In February, Brazil exported 4,000 mt and imported 25,000 mt of CRC, against respectively 4,000 mt and 28,000 mt in January. February exports were all destined to South American countries, shipped by ArcelorMittal (3,200 mt at $1,045/mt) and Usiminas (800 mt at $995/mt), both FOB conditions.
