CRC imports in Brazil are negotiated today at $1,100/mt, CFR conditions, stable over the last four weeks, a trader in the northeastern region of Brazil told SteelOrbis, adding that no deal was closed recently, as traders and consumers are overstocked with flat products.
In October, Brazil exported 78,600 mt of CRC while importing 19,200 mt of the product, against 2,500 mt and 21,000 mt in September, respectively.
The exports of October were almost entirely from Usiminas (78,200 mt), while ArcelorMittal and traders exported 200 mt each. The destinations were South American countries, 54,600 mt at $449/mt, certainly not a market-linked price, and Europe (24,000 mt at $1,055/mt), both FOB conditions.
The imports were chiefly from Asia (17,700 mt, of which 16,100 mt at $767/mt from China), while 1,500 mt at $842/mt were imported from Sweden, also FOB conditions.
In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by the producers at BRL 6,400/mt ($1,176/mt), against BRL 6,900/mt two weeks ago, ex-works, no taxes included.
USD = BRL 5.44 (Nov. 11)