The most recent offers of Chinese CRC imports in the Brazilian market are around the level of $630/mt, FOB conditions. In Brazil’s domestic market, CRC of the 1008 grade is currently sold by distributors at BRL 3,850/mt ($1,173/mt), ex-works, full taxes except IPI, against BRL 4,500/mt one month ago.
As domestic CRC prices have followed a declining trend and become more competitive with imports, import volumes have decreased. According to sources, CRC imports in November were most likely purchased by end users in the auto and domestic appliance sectors, rather than distributors.
Brazil imported 7,300 mt of CRC in November, against 24,300 mt in October, at an average FOB price of $591/mt, 7.9 percent less than in October, according to the country’s ministry of industry, foreign trade and services, MDIC.
Asia was the main origin, 7,100 mt, of which 4,200 mt from China at $497/mt and 2,100 mt from South Korea at $700/mt, while 200 mt was imported from the EU at $858/mt, all FOB conditions.
Meanwhile, Brazil exported in November 43,700 mt of CRC, destined chiefly to the EU (29,000 mt) and to Latin America (14,700 mt).
USD = BRL 3.284 (December 18)