CRC imports in Brazil are negotiated today at $1,000/mt, stable from two weeks ago, CFR conditions, a trader in the northeastern region of Brazil told SteelOrbis.
The source added that no deal at that price was closed, as importers are in a wait-and-see strategy, in the hope that offers will be reduced in line with international prices of the product.
In November, Brazil exported 44,700 mt of CRC, while importing 46,500 mt of the product, against respectively 78,600 mt and 19,200 mt in October.
The exports were destined to Canada (32,000 mt at $990/mt), Europe (11,900 mt at $1,092/mt) and Argentina (800 mt at $759/mt) all FOB conditions.
The imports were mostly from Asia (43,200 mt, of which 42,200 mt at $1,046/mt from China), followed by Europe (2,000 mt at $837/mt) and Colombia (1,300 mt at $1,036/mt)
In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by the producers at BRL 6,100/mt ($1,095/mt), against BRL 6,400/mt two weeks ago, ex-works, no taxes included.
USD = BRL 5.57 (December 8)
