Brazilian producers remain negotiating HRC of the basic commercial grades for export at $550/mt, FOB conditions, a price now achieving seven weeks of stability, a local exporter told SteelOrbis.
According to the source, a price increase is expected in the short term, in line with the trend of international steel prices.
Fresh numbers from the country’s ministry of industry, foreign trade and services, MDIC, indicate that Brazilian HRC exports totaled 154,100mt in November, 22.5 percent more than in October, at an average FOB price increased by 5.2 percent to $554/mt, FOB conditions.
ArcelorMittal exported 112,100 mt at $549/mt, CSN exported 33,000 mt at $546/mt and Usiminas exported 8,900 mt at $655/mt, all FOB conditions, with price deals probably closed in September.
The main destinations were Latin America (43,200 mt), Asia (38,800 mt), the EU (32,200 mt) and Turkey (22,700 mt).
