Brazilian producers remain negotiating HRC exports in a reference price of $450/mt, FOB conditions for the basic commercial grades.
In May, Brazil exported 153,500 mt of HRC, against 53,100 mt in April. The main destinations were South America (112,700 mt at $474/mt), followed by Portugal (40,600 mt at $471/mt) and the Dominican Republican (20 0mt at $495/mt), while the exporters were ArcelorMittal (112,600 mt), CSN (40,800 mt) and Usiminas (100 mt).
In the Brazilian domestic market, HRC of the basic commercial grades are currently offered at BRL 2,981/mt ($586/mt), against BRL 2,834/mt two weeks ago, CFR conditions, no taxes included.
The last offer of HRC received by Brazilian importers from China was priced at $527/mt, little changed from $520/mt two weeks ago. Such price refers to CFR conditions to ports in the Brazilian South or Southeastern coast, having the A36/Q235 grade product as reference.
Meanwhile, Brazil imported in May 20,400 mt of HRC at $508/mt from China and a small volume from South Korea.
USD = BRL 5.09 (June 15)