Brazil imported 23,000 mt of CRC in May, against 6,300 mt in April, according to the country’s ministry of industry, foreign trade and services, MDIC. It was the highest monthly volume imported in recent years, halting a downtrend that started in February.
The main origins were Asia (12,000 mt at $550/mt, of which 10,200 mt from China at $517/mt) and Russia (10,800 mt at $613/mt), all FOB conditions.
According to a local trader, the increased import volume reflects high domestic prices which make imports highly profitable, even those from distant origins.
Current domestic offers from Brazilian producers are available in the range of BRL 3,000/mt ($912/mt), ex-works, full taxes except IPI conditions.
In contrast, a source from a trader in the north of the country mentioned a recent booking of CRC from China at $500/mt, FOB conditions, in a shipment set to arrive in Brazil this month.
USD = BRL 3.29 (June 19)
