Exports of HRC from Brazil reached 55,100 mt in April, 64 percent less than in March, according to the country’s ministry of development, industry and foreign trade, MDIC.
The average FOB export prices, for deals probably closed in February, went down by 8.7 percent to $501/mt, with ArcelorMittal Tubarao exporting at $422/mt, Usiminas in the $534/mt to $542/mt range and CSN in the $534/mt to $545/mt range.
A source from a major producer told SteelOrbis that the current FOB export price for the basic commercial grades of HR coils is $440/mt, against $460/mt on late March.
A source from a major distributor in the south of Brazil told SteelOrbis that he remains selling HRC in the domestic market at BRL2,230/mt ($734/mt), ex-works, full taxes, except IPI, stable in BRL since a 6.7 percent increase last January, adding that the domestic demand is suffering from the poor performance of different industrial sectors, chiefly the auto industry.
Meanwhile, Brazil imported 16,700 mt of HRC in April, 36 percent less than in March, at an average FOB price of $519/mt, of which 11,300 mt from Asian countries at $530/mt FOB and 5,200 mt from Russia at $485/mt FOB.