Brazilian producers are negotiating HRC exports with their South American clients at a reference price of $770/mt FOB, which has remained stable for the past two weeks.
In the Brazilian domestic market, producers are selling HRC of the basic commercial grades in medium to large volumes at BRL 5,600/mt ($1,020/mt), down from BRL 5,650/mt two weeks ago. This price is ex-works and includes all taxes except IPI.
According to the foreign trade authority SECEX, Brazil exported 3,000 mt of HRC and imported 91,700 mt in May, compared to 2,100 mt and 55,300 mt, respectively, in April.
May’s exports were destined for Mexico (2,200 mt at $750/mt), South American countries (700 mt at $821/mt), and the US (100 mt at $947/mt) under FOB conditions.
The exporters were Usiminas (2,900 mt at $768/mt) and CSN (100 mt at $947/mt).
Imports came from China (64,800 mt at $502/mt), Egypt (13,400 mt at $606/mt), South Korea (13,400 mt at $512/mt), and Mexico (100 mt at $483/mt) under the same terms.
USD = BRL 5.49 (June 18)