The last offers of Brazilian CRC imports from China were priced in a range of $1,100/mt to $1,200/mt, CFR conditions for shipments to a port in the Northeastern coast of Brazil, with basic commercial grades as reference, against $880/mt two weeks ago.
According to a local trader, no import deals were closed at such price level, as the market remains chaotic, amid proposals with unfeasible prices. He believes that deals will be resumed when tax rebate cuts in China are confirmed and prices assume a reasonable level.
In March, Brazil exported 36,600 mt of CRC, while importing 10,000 mt of the product, against 15,900 mt and 3,800 mt, respectively, in February.
In the Brazilian domestic market, CRC of the basic commercial grades is currently offered in medium to large volumes by the producers at BRL 6,445/mt ($1,185/mt), ex-works, no taxes included, against BRL 6,104/mt two weeks ago. The increase reflects chiefly higher international prices of the product.
USD = BRL 5.44 (April 27)