Brazil exported 40,600 mt of hot dipped galvanized products (HDG) in October, against 12,500 mt in September, said the local ministry of industry, foreign trade and services, MDIC.
A local exporter told SteelOrbis that part of the increase reflects shipments originally scheduled for September, but postponed to October.
CSN exported 19,100 mt at $785/mt, Usiminas exported 10,100 mt at $890/mt and ArcelorMittal exported 11,200 mt at $781/mt, all FOB conditions.
The main destinations were Latin America (23,600 mt, of which 21,300 mt to Argentina) and the US (16,800 mt), while smaller tonnages were shipped to Asia.
According to the source, the most recent HDG export deals are being closed in a range of $820/mt to $840/mt, FOB conditions, against $810/mt to $830/mt FOB three weeks ago.
In the domestic market, HDG remains sold by distributors at BRL 4,840/mt ($1,479/mt), ex-works, full taxes except IPI, having the Z-100, 1.11mm thickness product as reference.
Such high domestic prices continue to fuel imports, which have reached 22,000 mt in October, the same as September, of which 16,200 mt from China at $640/mt and 1,900 mt from the EU at $889/mt, both FOB conditions.
USD = BRL 3.25 (November 9)