Exports of Brazilian HRC remain closed at prices around the $600/mt range FOB port for the base commercial grades, a major producer told SteelOrbis.
According to the source, the average is maintained over the last two months, in spite of the increased availability of material for exports, reflecting the reduced domestic demand.
Competitive markets, such as Asia, were temporarily abandoned by the exporters, which have focused on the nearby markets, such as Latin American countries and the US, where average prices achieved in August were $663/mt and $593/mt, respectively.
In August, Brazil exported a total of 64,000 mt of HR coils, 53 percent more than in July, at an average FOB price of $646/mt.