Brazil imported 27,700 mt of CRC in January, 38 percent more than in December 2016, at an average FOB price slightly reduced to $469/mt. The increase reflects chiefly imports of 11,700 mt from Russia at $445/mt, FOB conditions, against no imports in December 2016.
Brazil imported 15,600 mt of CRC from Asian countries in January, 20 percent less than in December 2016, of which 12,300 mt came from China at an average price level of $432/mt and 2,800 mt from South Korea at $665/mt, while 500 mt was imported from the EU at $658/mt, all FOB conditions.
Meanwhile, Brazil exported 27,000 mt of CRC in January, against only 2,600 mt in December 2016, chiefly to the EU (24,300 mt at an average price of $481/mt), of which 17,600 mt went to Germany at $478/mt, FOB conditions.
According to sources, a combination of reduced domestic demand and high domestic prices, currently around the equivalent of $1,000/mt or higher, is forcing Brazilian steel producers to search for alternative markets abroad, but in the meantime domestic consumers and traders keep searching for alternative markets to escape from the domestic prices.
