A trader in a northeastern state of Brazil told SteelOrbis that he is facing continual difficulty importing CRC over the last few weeks, receiving offers at $1,400/mt CFR conditions, which in his view is not a viable price level to supply the local market.
He mentioned also an offer at BRL 10,000/mt ($2,028/mt), CFR, full taxes except IPI, for the supply of CRC from a domestic producer in the southeast region, also not viable in his view.
In May, Brazil exported 2,500 mt of CRC, in average at $846/mt, while importing 45,300 mt of the product, in average at $717/mt, both FOB conditions.
In the Brazilian domestic market, CRC of the basic commercial grades remains offered in medium to large volumes by producers at BRL 7,500/mt ($1,521/mt) against BRL 8,130/mt two weeks ago, ex-works, no taxes included. The decline reflects exchange rate variations and competition with the imported product.
USD = BRL 4.93 (June 24)