Brazilian steel makers are still negotiating HRC exports with their South American clients at a reference price of $900/mt, stable over the last four weeks, FOB conditions for the basic commercial grades.
In August, Brazil exported 37,000 mt and imported 38,900 mt of HRC, against respectively 7,300 mt and 24,000 mt in July.
The high volume of imports still reflects the high domestic prices, with premium now around 18 percent in relation to a similar imported product after clearing customs, against 25 percent two weeks ago.
The exports of August were destined to South American countries (18,300 mt at $626/mt), Turkey (15,000 mt at $617/mt) and the Dominican Republic (3,700 mt at $617/mt), all FOB conditions.
The exporters were ArcelorMittal (36,100 mt at $608/mt), Usiminas (600 mt at $1,384/mt) and Gerdau (300 mt at $683/mt).
The imports were from China (28,800 mt at $666/mt) and South Korea (10,100 mt at $602/mt), also FOB conditions.
USD= BRL 4.99 (September 8)