Brazil imported 4,300mt of CRC in June, 7.6 percent less than in May and the lowest monthly volume so far in the year, said the ministry of development, industry and foreign trade (MDIC.)
The average FOB import price declined by 30 percent to $361/mt. CRC import prices from global sources vary widely: 3,400mt from China at $285/mt, 400mt from the EU at $614/mt and 100mt from South Korea at $778/mt.
According to analysts, the reduced volume imported reflects not only the poor demand from the local industry, but also exchange rate variations that have reduced the purchasing power of the local currency.
For the same reasons, the country’s exports of CRC in June increased from May by 80 percent to 18,700mt, at an average FOB export price of $462/mt, with Usiminas exporting 14,600mt at $378/mt, CSN exporting 3,100mt at $823/mt and ArcelorMittal exporting 650mt at $489/mt. Deals at these price points are believed to have closed in April.
The main destinations of such exports were the EU (13,700mt) and South America (5,000mt).
A local exporter told SteelOrbis that he is currently exporting CRC of the basic commercial grades at $520/mt, FOB conditions, against $570/mt one month ago.