CRC import offers in Brazil are currently negotiated in average at $1,050/mt, CFR conditions, stable from one month ago, a trader in the northeastern region of Brazil told SteelOrbis.
In June, Brazil exported 1,900 mt of CRC, in average at $1,352/mt FOB conditions, while importing 11,200 mt at $1,033/mt FOB, against 9,900 mt at $805/mt FOB and 16,100 mt at $1,086/mt FOB, respectively, in May.
Due to the recent cancelation of import tax in the US for the Brazilian CRC, the volumes of the product to be shipped from Brazil to the US are expected to increase, starting in September.
The exports of June were destined to South American countries (1,600 mt at $1,357/mt) and the US (300 mt at $1,343/mt), while the exporters were Usiminas (1,400 mt), CSN and traders (250 mt each).
The imports were from China (9,500 mt at $1,077/mt), South Korea (1,200 mt at $762/mt) and Europe (500 mt at $851/mt), also FOB conditions.
In the Brazilian domestic market, CRC of the basic commercial grades is now offered in medium to large volumes by the producers at BRL 6,800/mt ($1,285/mt), against BRL 7,000/mt one month ago, ex-works, no taxes included.
USD = BRL 5.24 (July 27)