Brazilian producers are negotiating HRC of the basic commercial grades for export at $610/mt, FOB conditions, against a reference price of $620/mt that was stable for the last nine weeks, a local exporter told SteelOrbis.
In July, Brazil exported 74,400 mt of HRC, against 119,000 mt exported in June, in a reduction ascribed to the small premium between such price and the relevant feedstock slab. According to the source, producers are giving preference to export slab, rather than HRC.
The main exporters were CSN (41,500 mt at $590/mt) and ArcelorMittal Tubarao (32,000 mt at $570/mt), while Usiminas exported 900 mt at $692/mt, all FOB conditions with price deals probably closed in May. The main destinations were the EU (41,700 mt) and Turkey (32,000 mt), while small volumes were shipped to South America, Africa, Asia and Mexico.