Brazil exported 6,300 mt of Galvalume in July, 48 percent less than in June, at an average FOB price of $718/mt, according to the local ministry of development, industry and foreign trade, MDIC.
Most of the volume, 5,300 mt, was shipped by the local producer CSN to clients in the US, while 800 mt was shipped to Uruguay, also by CSN. A small tonnage, 100 mt, was exported by ArcelorMittal.
A market source told SteelOrbis that the reduced demand from local consumers was compensated by the reduced production of Galvalume, resulting in a relative scarcity and high domestic prices, currently evaluated at the equivalent to $980/mt, FOB conditions, no taxes included.
According to the source, the last export sales of Galvalume were closed at $860/mt, FOB conditions.
He added that exports in August are expected to increase, but not to a large extent, as prices will be maintained and preference will remain ascribed to the domestic market.
With the higher domestic prices and reduced availability, the Brazilian imports of Galvalume increased from 2,200 mt in June to 17,300 mt in July, the highest monthly volume in one year.
Of these, 15,500 mt were imported from China at $549/mt, and 1,800 mt from the EU at $570/mt, both FOB conditions.
Of these, 15,500 mt were imported from China at $549/mt, and 1,800 mt from the EU at $570/mt, both FOB conditions.