CRC imports in Brazil are negotiated in average at $705/mt, CFR conditions, stable from two weeks ago, according to sources.
In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by the producers at BRL 6,050/mt ($1,118/mt), against BRL 6,000/mt two weeks ago, ex-works, full taxes except IPI.
In September, Brazil exported 25,900 mt and imported 13,500 mt of CRC, against respectively 2,100 mt and 38,000 mt in August.
The exports of September were destined to Europe (23,600 mt at $676/mt) and to South America (2,300 mt at $1,102/mt), shipped by Usiminas (24,600 mt at $686/mt) and ArcelorMittal (1,300 mt at $1,267/mt), both FOB conditions.
The imports were from Asia (13,200 mt at $554/mt) and Europe (300 mt at $1,150/mt).
These imports include 7,100 mt cleared through customs in the duty-free zone of Manaus, Amazonas, making the operation exempt from all taxes. Local steel producers have expressed concerns, noting that this could lead to competitive disadvantages, especially at subsidized prices.
USD = BRL 5.41 (October 10)