CRC imports in Brazil are negotiated in average at $920/mt, CFR conditions, against $950/mt two weeks ago, according to sources.
In May, Brazil exported 1,800 mt of CRC while imported 44,100 mt of the product, against respectively 5,200 mt and 14,700 mt of the product.
All the exports of May were destined to Argentina, of which 1,300 mt at $1,334/mt by Usiminas and 500 mt at $1,209/mt by ArcelorMittal.
The imports were from China (34,800 mt at $698/mt), South Korea (6,800 mt at $652/mt), Hong Kong (2,000 mt at $697/mt) and Sweden (500 mt at $1,406/mt).
The volume imported in May is the monthly highest in recent years, reflecting the higher premium of the domestic price in relation to the price in the international markets. Speaking in a conference last month, Carlos Loureiro, the president of the Brazilian flat steel distributors INDA, said that the current premium for CRC is exceeding 25 percent, in his view representing “an invitation to imports.”
In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by the producers at BRL 6,150/mt ($1,250/mt), against BRL 6,350/mt two weeks ago, ex-works, no taxes included.