Steel distributors in Sao Paulo are negotiating HRC for the domestic market at BRL 3,950/mt ($1,256/mt) ex-works, full taxes except IPI, having the 1008/1012 grades, 4.75mm thickness product as reference.
The price compares with BRL 3,770/mt four weeks ago, still reflecting a readjustment of flat steel prices established by all local producers since earlier this month.
Brazilian imports of HRC declined from 17,700 mt in November to 1,900 mt in December, of which 1,000 mt from China at $516/mt and 800 mt from South Korea at $572/mt, both FOB conditions.
The last offer of HRC received by Brazilian importers from China was priced at $575/mt, FOB conditions, a price stable over two weeks.
USD = BRL 3.15 (January 25)