CRC imports in Brazil have new reference price for negotiations

Tuesday, 13 July 2021 20:48:31 (GMT+3)   |   Sao Paulo
       

CRC imports in Brazil are negotiated today in a price range of $1,150/mt to $1,200/mt, CFR conditions, a local trader told SteelOrbis, adding that it is not clear so far if deals were effectively closed in that range.

In June, Brazil exported 6,200 mt of CRC while importing 42,600 mt of the product, against 2,500 mt and 45,300 mt, respectively, in May.

The exports were almost entirely by Usiminas, destined to Europe (5,400 mt at $424/mt, probably not a market price) and South American countries (800 mt at $921/mt).

The imports came chiefly from Asia (42,000 mt, of which 24,600 mt from China at $752/mt), while small volumes were shipped from Sweden and Germany.

Brazilian states in the north and northeast of the country were the destination of 22,000 mt of CRC imports, reflecting high domestic prices and logistics difficulties to move cargoes by road from the producers, all located in the southeast.

In the Brazilian domestic market, CRC of the basic commercial grades is offered in medium to large volumes by the producers at BRL 6,451/mt ($1,248/mt), against BRL 7,500/mt three weeks ago, ex-works, no taxes included.  The decline reflects exchange rate variations.

USD = BRL 5.17 (July 13)


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