The last offers of CRC received from China by a Brazilian importer were priced in a range of $1,300/mt to $1,400/mt, CFR conditions for shipments to a port in the Northeastern coast of Brazil, with basic commercial grades as reference, against $1,100/mt to $1,200/mt two weeks ago.
A local trader mentioned that no deal was closed at such price levels, which he described as “chaotic.”
In April, Brazil exported 3,300mt of CRC while importing 11,800 mt of the product, against 36,600 mt and 10,000 mt, respectively, in March.
The main destination of the exports in April was South America (3,200 mt at $625/mt), while small volumes were shipped to the US and to China. The exporters were Usiminas (2,300 mt at $613/mt) and ArcelorMittal (600 mt at $561/mt), while small volumes were exported by traders and by CSN, all FOB conditions.
With the exception of 300 mt at $868/mt imported from Sweden, the balance of 11,400 mt at $654/mt were imported from Asian countries, also FOB conditions.
In the Brazilian domestic market, CRC of the basic commercial grades is currently offered in medium to large volumes by the producers at BRL 7,341/mt ($1,383/mt), against BRL 6,445/mt two weeks ago, ex-works, no taxes included. The increase reflects higher international prices of the product.
USD = BRL 5.30 (May 13)