The Brazilian producers are negotiating HRC exports with their South American clients in a reference price of $750/mt, against $760/mt from two weeks ago, FOB conditions for the basic commercial grades.
In the Brazilian domestic market, HRC of the basic commercial grades is sold by producers, in medium to large volumes, at BRL 4,600/mt ($844/mt), against BRL 4,850/mt two weeks ago, ex-works, full taxes except IPI.
In July, Brazil exported 11,200 mt of HRC, in average at $545/mt, and imported 68,600 mt at $561/mt, against respectively 4,900 mt at $815/mt and 114,000 mt at $532/mt in June.
The domestic market continues to experience historically low prices, accompanied by decreased demand both locally and internationally.
Executives of the sector, during an industry congress this week in São Paulo, have declared that the steel industry is facing its historical worst period, due to a combination of factors that include steel imports at lower price, reduced domestic demand, and tax barriers to export to the US.
USD = BRL 5.45 (August 27)
