CRC imports in Brazil are negotiated in average at $690/mt, CFR conditions, against $680/mt two weeks ago, according to sources, which added that such reference price could be changed in the short term, due to the tariff dispute between the US and China.
In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by the producers at BRL 6,350/mt ($1,060/mt) against BRL 6,100/mt two weeks ago, ex-works, full taxes except IPI.
According to the foreign trade authority, SECEX, in March, Brazil exported 2,700 mt and imported 34,100 mt of CRC against respectively 16,200 mt and 34,300 mt in February.
The exports of March were all destined to South American countries, of which 2,200 mt at $976/mt by Usiminas, 400 mt at $860/mt by ArcelorMittal, and 100 mt at $869/mt by CSN, FOB conditions.
The imports were from Asia (34,000 mt, of which 25,800 mt at $516/mt from China) and Europe (100 mt at $907/mt), also FOB conditions.
Imports destined to states in the north of Brazil in March were equivalent to 84 percent of the total, reflecting the logistics hurdles and lack of interest of the Brazilian steel producer, located in the southeast to serve their more distant customers.
USD = BRL 5.99 (April 8)
