Brazilian producers are negotiating HRC exports to their South American clients in a reference price of $1,000/mt, FOB conditions for the basic commercial grades, against $950/mt two weeks ago.
In March, Brazil exported 57,500 mt of HRC, while importing 39,400 mt of the product.
Importers in the north of the country have not closed fresh deals recently, as the prices now offered, around $1,080/mt, CFR conditions for the basic commercial grades, is considered “non-realistic” in terms of achieving profitability.
In the Brazilian domestic market, HRC of the basic commercial grades remains offered at BRL 6,092/mt ($1,134/mt), against BRL 6,198/mt two weeks ago, ex-works conditions, no taxes included. Such price refers to high and medium sized volumes of the product, when sold directly to large consumers or to distributors. The decline reflects chiefly exchange rate variations, as in USD terms the price is almost the same.
USD = BRL 5.37 (April 29)